Property Crossroads - Real Estate Info

Housing starts down … again

by Dan on January 21st, 2008

In a continuing sign of how bad the residential real estate market has gotten, homebuilders are still reducing the number of new homes they are building.

According to the National Association of Home Builders, single-family housing starts dipped 2.9 percent in December. Builders, according to the association, are still slowing production in an effort to reduce the inventory of unsold new homes glutting the market.

For 2007, builders started construction on 24.8 percent fewer houses than they did one year earlier.

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