By Jann Swanson
Posted To: MND NewsWire
Housing starts and completions plummeted nationwide in February, but especially in the Northeast and Midwest where record cold and nearly constant snowstorms took a substantial toll. Nationwide, housing starts were down 17.0 percent from January’s slightly upwardly revised estimate of 1,081,000 units to a seasonally adjusted annual rate of 897,000. Given that February 2014 had also featured unusually brutal weather the recent month’s number was down only 3.3 percent from the 928,000 starts reported a year earlier. Single-family construction starts in February were down 14.9 percent from the previous month’s rate of 697,000 to a seasonally adjusted annual rate of 593,000. In February 2014 the rate was fractionally higher at 589,000 units. Starts in buildings with five or more units dropped 21…(read more)
Via:: Weather Wreaked Havoc on February Starts, Completions
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