Construction starts dropped 2% in February to a seasonally adjusted annual rate of $797.3 billion, according to Dodge Data & Analytics.
The Dodge Index fell 2% in February, to 169 (2000=100) from January's 171. In February, starts fell in the South Central and West regions. However, they were higher in the Midwest, Northeast and South Atlantic Regions
In February, residential starts fell 7% to a seasonally adjusted annual rate of $388.9 billion. Both single-family and multifamily dropped 7%.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
