Residential construction on the decline

Permits for privately-owned housing units fell 5.9 percent last month nationwide, and housing starts fell 10 percent, according to data
released today by the U.S. Census Bureau and the Department of Urban
Housing and Development. Permits grew 4.4 percent year-over-year,
while starts rose 7.8 percent. Also on the decline were
privately owned housing completions, falling by 7.4 percent last
month, and 15.4 percent year-over-year. TRD