Housing Starts at Lowest Level in More Than 9 Years
Diana Heeb Bivona
The Census Bureau reported on Friday that January housing starts were at their lowest level since 1997. In January 2007, new homes starts fell 14.3% to an annual rate of 1.41 million from the 1.64 million level noted in December. A survey of economists by Briefing.com had forecasted a 1.6 million rate for January.
Except for the Northeast which actually posted a small rise in housing starts, the rest of the country saw decreases. Housing starts by region:
- In the Midwest: down 15.2%
- In the South: down 11.2%
- In the West: down 28.5%
Popularity: 11%