Construction Rates Fall
October 17th, 2007 by AptBldgTraderConstruction of single-family homes fell 1.7 percent to a 963,000 rate, today’s report showed. Work on multifamily homes slumped 34 percent. The National Association of Home Builders/Wells Fargo index of builder confidence plunged to a record low 18 in October, the Washington-based association said yesterday. Levels lower than 50 mean most respondents view conditions as poor. The index averaged 42 last year. This has been the lowest record since the monthly survey began some 23 years ago.