Housing construction falls in February - WKOW 27: Madison, WI Breaking News, Weather and Sports

Housing construction falls in February


WASHINGTON (WKOW) -- Housing construction numbers fell in February but remained higher than analysts predicted.

Experts blame winter storms in the Midwest and Northeast for a decline in construction of new homes and apartments last month, which were down 5.9 percent to 575,000 units. That's compared with the 570,000 economists had expected.

January activity was revised and actually rose to 622,000, the strongest showing in 14 months.

A rebound in housing is seen as critical to sustaining the overall economic recovery and home builders are trying to emerge from a severe downturn in the market.

Powered by Frankly