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Housing Starts Hit Record Lows

Housing Starts Hit Record Lows

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Total housing starts continued to fall in September to a seasonally adjusted 817,000. While a 1.6 percent decrease was expected, new construction actually plummeted 6.3 percent. “Unfortunately, the heavy toll that today’s financial-market woes are taking on consumer confidence is a major impediment to getting housing back on track as an engine of economic growth,” NAHB Chair Sandy Dunn said.

  
 
      
977,000
 
1.06 million
 
965,000
 
895,000
 
817,000
 
791,000
May
 
June
 
July
 
Aug.
 
Sept.
 
Oct.

SOURCE: U.S. CENSUS BUREAU