Sharp decline in housing construction

Sharp decline in housing constructionNew houses being built.Photo

The number of new homes fell by 42 percent in February compared with the same month last year.
The first two months of this year there has been an initiation decline of 20 percent, according to figures from the Homebuilders Association.
– We do not consider these figures to be dramatic. The decline is because we registered a record level initiations in December and that the number of initiations in February also were at a high level, the CEO of the association, Per Jæger, said.
The initiations in the last twelve months compared to the previous twelve months show an increase of 11 percent.


Source: NTB scanpix / Norway Today