Housing starts fell 2.1 percent in May to a seasonally adjusted annual rate of 1.474 million units as the correction in the housing market continued, according to figures released by the Commerce Department. Starts were down 24.2 percent from a year earlier.
“Builders still are cutting back on new production as they work down their inventories in the face of slack home buyer demand,” said Brian Catalde, president of the National Association of Home Builders (NAHB) and a home builder f
All access premium subscription
Only Electrical Marketing newsletter subscribers have access to premium content.
Being a subscriber to the Electrical Marketing newsletter allows you exclusive access to high value content including key economic indicators measuring the health of the market and access to the Electrical Price Index and other important industry insights.
Sign up for the Electrical Marketing newsletter to get access.