WASHINGTON – Homebuilders pulled back on construction for a second straight month in September, with a plunge in apartments offsetting gains in single-family homes. Building activity was weak in all parts of the country except the Midwest.
The Commerce Department says construction tumbled 9 per cent in September to a seasonally adjusted annual rate of 1.05 million units. It was the slowest pace in 18 months. Construction had fallen 5.6 per cent in August.