Wednesday, September 17, 2008

August New Housing Starts Decline

The U.S. Census Bureau reports that new housing starts for the month of August were down 6.2% over July. In short, building permits, new housing starts and housing completion numbers were down.

Good news - bad news? Perhaps. The bad news is that the numbers are down. Builders are hurting. The good news is that the resale market may benefit since fewer new homes are being built.

The U. S. Census Bureau and H.U.D. press release is here: press release.

At least, that's our opinion.

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