(Updated to include movement in homebuilder stocks)
WASHINGTON, D.C.( TheStreet) -- October housing starts reversed an upward trend, falling to their lowest level in six months. The news out of the home construction market was doubly disappointing, as permits for new home construction also fell 4% to 552,000, well short of analysts' forecast of 580,000 units.
Just when we thought we were out of the woods.
Commerce Department report showed that housing starts fell 10.6% to their lowest level since April, or to 529,000 units. A Reuters' analysts' poll had estimated 600,000 units. Instead, the report delivered the biggest percentage drop since January. In September, there were 592,000 housing starts.
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