Housing Construction Fell Sharply in October
By wchung | 25 Mar, 2026
Construction of new homes fell sharply in October, fresh evidence that the housing industry remains under duress.
The Commerce Department says construction of new homes and apartments sank 11.7 percent last month to a seasonally adjusted annual rate of 519,000 units.
The decline marked the poorest showing since April 2009, when construction dropped to 477,000 units — the lowest level on records dating back to 1959. Construction of new homes and apartments is 77 percent below its peak during the housing boom of 2.27 million units in January 2006.
MARTIN CRUTSINGER, AP Economics Writer WASHINGTON
Articles
- Airport Lines Lengthen As More TSA Officers Quit
- Robot Helps Melania Push for More AI in Education
- Strikes Continue As Pakistan Awaits Iran's Response to US Peace Proposal
- Import Prices Surged Most in 4 Years Even Before Oil Surge
- SpaceX to File IPO Prospectus This Week
- US CFOs Had Projected Solid 2026 Growth Until Iran Happened
- Sony Honda Mobility Scraps Afeela EV, Prospective Buyers to Get Refunds
- China's Chipmaking Capacity Strained by Accelerating AI Boom
- SK Hynix Files for US Listing to Raise Up to $14 Billion
- NASA to Spend $20 Billion on Moon Base, Cancel Lunar Orbit Station