Single-family housing starts hit 16-year low
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Housing starts fell 3.7 percent in November, with construction of single-family homes sliding to the lowest level in more than 16 years as builders scrambled to cope with a deep drop in sales.
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Sales of new U.S. homes fell in November to the lowest rate since 1995, but business activity perked up this month, according to reports on Friday that showed pockets of strength in the economy despite a housing sector meltdown.
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A January decline of 16.6 percent suggests some weakness in the real estate market.
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Prices of existing U.S. single-family homes recorded their biggest annual drop in October, suggesting the housing slump is far from over, a national home price gauge released on Wednesday shows.
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Burdensome state and local  regulations hurt efforts to build housing that is affordable  for low- and middle-income people, and the problem has only  worsened over the past decade, a U.S. government report said on  Monday.
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The number of single-family homes homes being contructed in the US hits its lowest level since April 1991.
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As bad as they were, the 2007 housing start numbers probably should have been worse.
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Home builders slammed on the brakes in August as starts on new homes sank to their lowest level in more than three years, and a drop in permits signaled more weakness ahead for the real estate market.
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Amid economic slump, region's new residential building permits fall to lowest levels since 1991.
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Housing starts fell to their lowest level in 12 years last month, while permits for new construction also declined, pointing to a further weakening of an already battered housing market.
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For the year, sales of single-family homes were down by 13 percent, the biggest drop since a 17.7 percent plunge in 1982. The median price for a single-family home dropped to $217,000.
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Housing starts fell 3.7 percent in  November, with construction of single-family homes sliding to  the lowest level in more than 16 years as builders scrambled to  cope with a deep drop in sales.
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Housing construction fell in November and single-family activity dropped to the lowest level in more than 16 years as a severe housing slump showed no signs of a turnaround.
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An Associated Press analysis of new census data provides insight into the reasons for the slumping housing market: Since 1990, homeowners have faced a growing gap between their incomes and the price of their homes.
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U.S. housing starts unexpectedly  rose 4.7 percent last month to a nearly 21-year high as  single-family housing starts shot up to a record, a Commerce  Department report showed on Wednesday.
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Confidence among US consumers has fallen to a 16-year low, a closely watched survey claims.
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A jump in starts on single-family  housing pushed total U.S. housing starts to a nearly 21-year  high in January, but other data released on Wednesday were not  as robust.