March housing construction falls 10.8 percent - KWWL - Eastern Iowa Breaking News, Weather, Closings

March housing construction falls 10.8 percent

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WASHINGTON (KWWL) - The government said housing construction plunged to the second lowest level on record in March.

This provided a sobering sign that the worst housing slump in decades has not yet ended.

The Commerce Department said Thursday construction of new homes and apartments dropped by 10.8 percent last month to a seasonally adjusted annual rate of 510,000 units. That was the second lowest construction pace on records that go back 50 years.

Online Executive Producer Nate Leding

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