Worst Home Construction Numbers in Over a Decade
The commerce department released the latest residental home construction numbers today, and the numbers were the lowest in over a decade. Building permits dropped 5.9 percent to 1.307 million, the lowest since 1995. Read the full story here.
Starts were projected to fall to a 1.35 million unit pace, from an originally reported 1.381 million in July, according to the median forecast of 77 economists polled by Bloomberg News. Estimates ranged from 1.24 million to 1.4 million. Residential construction was down 19 percent over the last 12 months.
