"Oct housing starts dove -5.6% to 2.014 mln after Sept was revised higher to 2.134 mln. All the regions showed declines. Permits to build fell -5.6% to 2.071 mln from a 32 year high in Sept. The declines reflect the softening market as levels remain very strong above 2 mln."
REPEAT: levels remain very strong above 2 mil.
Likely has more to do with interest rate increases than any other singly factor.