WASHINGTON, April 17 - Single-family housing production held virtually unchanged in March as a double-digit decline in the more volatile multifamily sector brought combined nationwide starts activity down 5.8 percent to a seasonally adjusted annual rate of 654,000 units, according to data released by the U.S. Commerce Department today.
"While more consumers appear to be seriously considering a new-home purchase, builders remain very cautious about starting new projects until they see more actual sales materializing," said Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla. "At the same time, in places where buyers are ready to go forward with a purchase, access to credit for both builders and buyers and difficulties in obtaining accurate appraisals are persistent challenges that continue to slow that process considerably."