New home construction plunged 6.3% in September

Construction of new homes plunged by a bigger-than-expected amount in September as builders slashed production to the slowest pace since early 1991, when the country was in a deep recession.

A barometer of future building also dropped to the weakest level in more than 25 years.

The building industry is on pace to construct the fewest new homes and apartments this year since the end of World War II.

Published in: on October 17, 2008 at 11:56 pm  Leave a Comment  

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