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Latest News

September homebuilding figures from the U.S. Commerce Department this week were weaker than expected, sending stocks lower and sparking fears that a recovery in residential construction may be faltering.

New home construction, "remained virtually unchanged in September," commented the National Association of Homebuilders, "edging up half a percent to a seasonably adjusted annual rate of 590,000 units." This was 28.2% below the rate in September 2008.

New homebuilding fell back to the same rate as in June, following two months of gains that had encouraged analysts that a recovery was stirring.

Also last month, building permits, an indicator of future homebuilding activity, fell 1.2%. Last September building permits were 28.9% higher.

See the statistical release here.

Read the NAHB news release here.