Housing starts decline 6.2% in August
RISMEDIA, Sept. 19, 2008-Nationwide housing starts declined 6.2% in August as home builders continued to cut back on new construction in order to scale back their inventories and help pave the way for housing market recovery, according to figures released by the US Commerce Department this week.
Demand for housing fell for the first time in three months in May, with the number of new buyers registering with agents declining by 0.5%, according to Hometrack's Monthly National Housing Survey.