The Commerce Department reported that a rebound...

The Commerce Department reported that a rebound in apartment construction offset a decline in single-family home building, boosting overall housing activity by a moderate 1.5% last month. Commerce said new homes and apartments were built at a seasonally adjusted annual rate of 1.45 million units in September, the fourth consecutive month that starts have held steady between a rate of 1.43 million and 1.48 million units. In the first nine months of this year, housing starts are running 10.5% behind the same period of last year. Economists anticipate a further decline next year. Single-family homes in September were built at an annual rate of 1.05 million units, down 2.3% from August.