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Housing Starts Rise 1.7 Percent in September

Wednesday, October 17, 2001 - 7:00AM

Starts of new housing rose 1.7 percent in September to a seasonally adjusted annual rate of 1.574 million, the Census Bureau reported today. National Association of Home Builders (NAHB) President Bruce Smith attributes some of the strong showing to a rebound in the multifamily sector, which increased 6.3 percent from the previous month. The NAHB yesterday announced that its Housing Market Index (HMI), an indicator for single-family housing, dropped eight points in October, from 54 to 46. This was the largest single month's decrease since NAHB started compiling the HMI in 1985.

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