Housing Starts Fall 14.6% in Oct. to Lowest Level in 6 Years
Housing
starts in October fell 14.6% in vs. September to a seasonally adjusted
annual rate of 1,486,000. This is 27.4% below the October 2005 rate of
2,046,000, according
to the U.S. Census Bureau. This is the lowest
level of housing construction in more than six years, driven by a
26.4% decline in the South, 11.7% fall in the Midwest and 2.1% decline in
the West.
Single-family housing starts in October were at a rate of 1,177,000, a fall of 15.9% from the September figure of 1,400,000.
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Currently,
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