The 7.0% plunge in housing starts (-2.7% exp) is tied with the biggest drop since March 2017 and the 5.7% tumble in permits (-4.1% exp) is the biggest since February 2017...

The drop was led by a collapse in multifamily units - Multifamily Starts down 28% MoM on an annualized basisAnd Multifamily Permits down 14.6% MoM on an annualized basis...