April 17, 2009
Building Down In March
Building permits and housing starts dropped in March, based on seasonally adjusted rates released by the U.S. Census Bureau and the Department of Housing and Urban Development.
Building permits for privately-owned housing units fell to 513,000, down 9 percent from the revised February rate and 45 percent from the March 2008 rate. Housing starts were at 510,000, 10.8 percent down from the February estimate and 48.4 percent down from the March 2008 level.
Housing completions, meanwhile, rose 3.5 percent from February, to 824,000. But that's still 30.9 percent below the March 2008 rate.
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