Economic Report: New-home construction slipped in February — before the coronavirus even became a major concern in the U.S. [MarketWatch]
Lennar Corporation Class A (LEN)
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Source: MarketWatch
New-home construction slipped in February — before the coronavirus even became a major concern in the U.S. The numbers: Builders started construction on new homes in the U.S. at a pace of 1.6 million in February, the Commerce Department said Wednesday . This represented a 1.5% decrease from an upwardly revised 1.62 million in January, but was 39% higher than a year ago. Permitting activity for new homes, meanwhile, fell 5.5% from January’s 13-year high to a seasonally adjusted annual rate of 1.46 million. This figure is nonetheless 14% higher than a year ago. Economists polled by MarketWatch had anticipated housing starts and building permits to have occurred at a 1.49 million rate and a 1.5 million rate respectively. Read more: The Fed cut interest rates to zero, but don’t expect to see 0% mortgages anytime soon What happened: Declines in activity surrounding multifamily buildings drove the downturn in both housing starts and building permits. For housing starts, multifamily con
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LEN
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LEN
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- 10/29/24 - Form 4
- 10/28/24 - Form 144
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