Home Builders Spending Half of Healthy Level

home buildersHome builders are sitting on their hands, as are apartment and government project builders, with building activity at around half the $1.5 trillion that would constitute a robust construction environment. Construction spending declined for the third month in a row in February, falling 1.4 percent, according to the Commerce Department. Total construction activity dropped to a seasonally adjusted annual rate of $760.6 billion -- the lowest number since October 1999. Economists are predicting it will take four more years for construction to recover to a robust level.

Read Full Story

Can't get enough real estate news?

Sign up for Finance Report by AOL and get everything from celebrity homes to renovation tricks delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

Find a home

Powered by Zillow