HOUSING-START DECLINE ENTERS EIGHTH MONTH

Construction of new homes fell 0.6 percent in September, the Commerce Department reported last week. The eighth straight monthly decline left building activity at its lowest level since near the end of the last recession. Last month's drop in starts followed a revised 1.0 percent decline in construction activity during August.

Building of single-family homes rose slightly by 4.3 percent in September. But that was more than offset by a 14.3 percent drop in apartment building. Total housing starts dropped to a seasonally adjusted annual rate of 1,135,000 units in September.

It was the first time in more than 30 years, since records were started in 1959, that construction starts fell for eight successive months.

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK