Saturday, April 23, 2005

National Association of Home Builders says March housing starts slow

The NAHB tracks the level of building of new homes. The latest report states "Starts were down 17.6 percent to a still-solid seasonally adjusted annual rate of 1.84 million units in March. Single-family starts declined 14.4 percent to a 1.54 million-unit rate. Meanwhile, multifamily starts, which tend to fluctuate more significantly from month to month, declined 31 percent in the latest report following exceptionally high activity in both January and February."

Some of the decline can be attributed to the bad weather, according to the NAHB.

To read more online, go here.

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