US home construction starts pick up in September

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US home construction starts pick up in September




File photo of multiple homes under construction in Chico, California


© Reuters/STAFF
File photo of multiple homes under construction in Chico, California


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)

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