New construction of U.S. housing units plunged in February, coming close to an all-time-low level.
Starts fell 22.5% to a seasonally adjusted annual rate of 479,000, the Commerce Department said. This is just 0.4% above the record low of 477,000 units set in April 2009.
The decline in starts in February was the largest since March 1984.
This number shows that US home builders are NOT confident in the US Housing Market at all and they are unwilling to build new houses.
It also suggests a possible continuous weakness in the local Brooklyn NY market.
However, if you find yourself in a situation where you need to sell your house fast, and having a hard time selling it, we'd be happy to help you.
As local investors in Brooklyn, NY, We Buy Houses in Any Condition & Situation.
We Pay Cash, not using any Bank Financing. That's why we can close very quickly. In many instances, 14 days or even less.
No matter what situation you are in, we'd like to hear from you. Facing a foreclosure, having back-payments, liens, or ECB/HPD viloation penalties, don't matter.
Please call our Toll Free, 24HR Recorded Message System at 1-888-282-0423.
For more info, you can visit our website.
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