Single-family homebuilding in the US rebounded strongly in September due to high demand for new construction amid a shortage of previously owned homes. However, the surge in mortgage rates, reaching the highest level in almost 23 years, could potentially slow down this momentum. Single-family housing starts rose by 3.2% to a rate of 963,000 units, while housing projects with five units or more saw a surge of 17.1% to 383,000 units. Overall, housing starts increased by 7.0% to 1.358 million units in September, slightly below economists' expectations.
