Housing starts fell 6.9 percent in August, the Commerce Department reported last week.(Brief Article)(Statistical Data Included)
Land Use Law Report, September, 2001
HOUSING STARTS FELL 6.9 percent in August, the Commerce Department reported last week. The decline was largely attributable to a 23 percent drop in construction of multi-family units. Single-family starts were off 2.4 percent. Bruce Smith, president of the National Association of Home Builders, said the group expected the terrorist attacks of Sept.
11 would have an impact on the housing market, but opined it would be toward the end of next month before the organization could know how much consumer confidence and buyer demand have been effected. Starts fell in three of four regions. The South led the decline with a 14 percent drop. Starts fell 7.7 percent in the Northeast and 3.7 percent in the West. The Midwest had a 6.6 percent gain in starts. Building permits...
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