SPXU - Consumer Confidence And Home Construction Drop

By Robert Hughes

Housing construction activity slowed in February as starts fell by 8.7 percent. Total housing starts dropped to a 1.162 million annual rate from a 1.273 million pace in January. The dominant single-family segment, which accounts for about three-fourths of new home construction, fell 17.0 percent for the month to a rate of 805,000 units. Starts of multifamily structures with five or more units jumped 23.5 percent to 352,000. From a year ago, total starts are off 9.9 percent with single-family starts down 10.6 percent and multi-family starts off 5.4 percent.

Among the

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