U.S. single-family home construction rose for a fourth straight month in September, as building permits also increased. The overall housing market continues to struggle with a lack of properties for sale and annual price growth that has been outpacing wage gains.
New home sales in the South, which accounts for the majority of transactions, edged down 0.2% in September. Sales in the West dropped 3.8%. In the Northeast, sales fell 2.8% but there was a jump of 6.3% in the Midwest.