By: Dennis Norman
Today the U.S. Department of Commerce reported new home starts for March were down 10.8% from February and down 48.4% from a year ago.
This is a sharp contrast to last months numbers which showed a 22% increase over January. However, like I said in my post last month, I don’t think the increase was necessarily good news with regard to the real estate market as inventories are still high and sales are still sluggish…it’s not time to ramp up the building yet.
Related posts:
- New home starts up over 22% in February-Is this good news?
- Residential construction down 4.2% for the month of March; down 34% from last year
- New home starts drop in December; down 14 percent from year before
- New home construction starts off 2011 with a ‘fizzle’
- New Home Sales decrease slightly in March