Content adapted from this Zerohedge.com article : Source
Housing starts reversed course from previous months to turn negative in the month of February.
This coincides with dismal sales data in back-to-back months.
A spike in housing starts in January was followed by a 7% plunge in February. Housing permits also dropped 5.7%. Both numbers were worse than what was expected.
Multi-family homes were what led the way for the dismal numbers.
It is too early to call for a downturn in the real estate market but these figures are worrisome. A follow through on this trend could really affect the overall economy.
Non-adpated content found at zerohedge.com: Source
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