Real Estate Industry Western United States

Construction of new homes and apartments fell for the third consecutive month in April, the government reported Tuesday, a sign that last year's record pace of home sales isn't likely to be matched. Starts fell 10.1% last month to a seasonally adjusted annual rate of 1.574 million, the biggest monthly decline in five years, Commerce Department figures showed. The decline followed drops of 0.1% in March and 3.7% in February. Even so, builders say 1999 will still be one of their best ever.

Construction of new homes and apartments fell for the third consecutive month in April, the government reported Tuesday, a sign that last year's record pace of home sales isn't likely to be matched. Starts fell 10.1% last month to a seasonally adjusted annual rate of 1.574 million, the biggest monthly decline in five years, Commerce Department figures showed. The decline followed drops of 0.1% in March and 3.7% in February. Even so, builders say 1999 will still be one of their best ever.

Sales of new homes rose to a record level in May, propelled by strong demand in the West, government figures showed Monday, and with mortgage rates under 7%, analysts expect strong sales throughout the summer. "I foresee a very solid third quarter," said economist Paul Taylor of America's Community Bankers, a trade organization for savings institutions. Sales last month edged up 0.

Sales of new homes rose to a record level in May, propelled by strong demand in the West, government figures showed Monday, and with mortgage rates under 7%, analysts expect strong sales throughout the summer. "I foresee a very solid third quarter," said economist Paul Taylor of America's Community Bankers, a trade organization for savings institutions. Sales last month edged up 0.