New Homes: Construction Up but Still Low

Before you go, we thought you'd like these...
Before you go close icon
New homes construction ticked up only 0.3 percent from August to September. The 610,000 new homes begun last month represent a 28 percent rise from the record low of 477,000 in April 2007, though. That's based on Census Bureau housing-starts figures dating back to 1959.

The relatively small increase is mostly in construction of multi-family dwellings; construction starts of single-family homes still are well below levels set at the beginning of 2010.

Generally a low level of housing starts is good for the long-term economy, since there is excess inventory in the current market. But in the short run, low levels hurt employment. (Click on "Full Story" for a full-size look at the chart.)

Still trying to decide whether to buy or rent? Here are some AOL Real Estateguides to help:

More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.

Read Full Story

Find a New Home

Powered by Zillow

From Our Partners