Construction of new homes nationwide fell to the lowest level in 17 years last month, showing the country still is gripped by a severe housing downturn.
The Hilton Head Island area hasn't been immune to the slowdown. Builders report they are facing a tough market, and the number of new homes being built has fallen significantly from previous years.
The U.S. Commerce Department reported Wednesday that housing construction dropped nationally by a surprising 6.2 percent last month -- the slowest building pace since January 1991, another period when housing was going through a painful correction. The decline is larger than the 1.6 percent drop analysts had expected.
"It's slow," said Ashley Feaster, executive director of the Hilton Head Area Home Builders Association. "It's obviously not what it was two years ago, but it's not like it is in other places."
Read the full story at islandpacket.com.
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