Housing Construction Softens

Peter Coy

It's probably a healthy sign that starts on construction of homes fell 7.8% in March, as the Census Bureau reported today.

It's healthy because the pace of construction was getting way ahead of the pace of buying. Now construction is getting closer in line with the general slowdown in sales.

Construction starts also fell by 7.8% in February. But they rose so much in January (16%) because of exceptionally warm weather that month that the first quarter as a whole still set a record.

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