New U.S. housing construction data to be released tomorrow is expected to show more new work in September compared to the previous month, despite lower levels compared to the same period last year.
Homebuilders began work on 610,000 new homes in September, according to a median average of 53 economists polled by Bloomberg news.
The U.S. Commerce Department will report New Residential Construction figures on Tuesday morning at 10:00, giving investors another indicator to assess the state of the housing market and U.S. economy.
In last month’s report there were 598,000 new private home construction starts, up 1.5 percent from July at 589,000.
The overall rate of construction, however, was down 29.6 percent in September compared to the previous year.