WASHINGTON, Oct 20 (Reuters) – U.S. home construction rebounded in September, driven by record-low interest rates and demand for properties on the outskirts and in low-density areas.
Home construction starts rose 1.9% to a seasonally adjusted annual rate of 1.415 million units last month, the Commerce Department said Tuesday. Economists consulted by Reuters projected a figure of 1.457 million units.
The August figure was revised down, to a rate of 1.388 million units from the 1.416 million that were initially reported.
(Reporting by Lucia Mutikani; Edited in Spanish by Janisse Huambachano)