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December 18, 2007

Homebuilding still slowing

The number of building permits issued for new homes last month fell about 25 percent from a year earlier as builders continue to try to rein in supply to deal with lowered demand, the federal government estimated today. It tallied the permits at less than 1.2 million, an annualized number.

Housing starts took a similar drop, while the government estimated the decrease in homes completed last month at nearly 29 percent.

Here's a graph worked up by economist Charles W. McMillion of MBG Information Services in Washington:




Posted by Jamie Smith Hopkins at 1:31 PM | | Comments (0)

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About Jamie Smith Hopkins
Jamie Smith Hopkins, a Baltimore Sun reporter since 1999, writes about the regional economy. Her reporting on the housing market has won national and local awards. Hopkins is a Columbia native and has lived in Maryland all her life, save for 10 months spent covering schools in Ames, Iowa.
She trained to become a wonk by spending large chunks of time as a geek and an insufferable know-it-all.
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