The crowing over last month's rise in multi-family starts is over (or at least it should be over).
Here's a September recap, followed by this month's surprise to the downside.
In September starts jumped 6.5% led by multi-family starts which surged 18.3%.
Single-family starts were up 0.3%.
See Housing Starts Surprise to Upside Led by Multi-Family, Permits Surprise to Downside for more details.
Housing Starts Plunge 11% to 7-Month Low
October wiped away all of September's good news and then some with an extremely weak 1.060 million (SAAR Seasonally Adjusted Annualized Rate) coupled with aggregate lower revisions to September data.