By Rex Nutting
WASHINGTON (MarketWatch) - New construction on U.S. housing units was essentially flat in September at a seasonally adjusted annual rate of 590,000, as a big drop in multifamily units was offset by an increase in starts of single-family homes, the Commerce Department estimated Tuesday. August's starts were revised lower to a 587,000 pace from 598,000 previously reported. Economists surveyed by MarketWatch were expecting starts to rise to a 607,000 rate. In the past year, starts are down 28.2%. Building permits fell 1.2% to a seasonally adjusted annual rate of 573,000 in September. Building permits for single-family homes dropped 3% to a 450,000 rate.
