New-home construction dipped again in September, the builders’ lobby says Monday.
When compared to September of last year, production in 2009 was off by 36 percent. Permits for single-family homes totaled 2,150, down 2 percent from August and down 12 percent from September 2008, while multifamily permits totaled 770, up 0.5 percent from August but down 63 percent from September of last year.
CIRB also announced that it is revising its forecast downward from 39,500 total units to just 37,700 total units in 2009, which would be by far the lowest total on record.
