Housing Starts Hit Stimulus Hangover

September new housing starts missed expectations, rising 0.5% to a seasonally-adjusted annual rate of just 590,000 vs. an expected 610,000. Starts were strongest in the South and West, while weakest in the Mid-West.

Building permits fell 1.2% vs. August, to a seasonally-adjusted annual rate of 573,000.

Slightly worse than expectated data shows that the housing market could be approaching a hangover, once home-buyer tax-credits disappear on November 30th.

Check out the release below. The chart below comes from Calculated Risk.

Housing Starts Sep 2009

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