Friday, November 20, 2009
Although analysts had forecast a raise in construction of new homes, the pace fell sharply compared with the prior month. The figures show a 30.7% drop comparing with October 2008.
New-home construction fell piercingly last month, underscoring the fragility of the fledgling housing recovery.
New-home construction fell piercingly last month, underscoring the fragility of the fledgling housing recovery.
Housing starts unpredictably fell 10.6% to a seasonally adjusted 529,000 annual rate in October compared with the prior month, the Commerce Department said Wednesday. That was 30.7% drop from October 2008.
Housing starts in the West, including California, fell 8.5% to a seasonally adjusted 108,000 annual rate in October compares with the prior month.
The number of new building permits last month also fell, by 4%, to a seasonally adjusted yearly rate of 552,000 from the previous month, the Commerce Department said.
posted
by World House Info @ 4:44 AM
permanent link
|
Post a Comment
|
| Share |
|
0 Comments:
Post a Comment
<< Home