New builds decline for single-family, apts.

David Paul Morris | Bloomberg | Getty Images
David Paul Morris | Bloomberg | Getty Images

By Paul Bubny | GlobeSt.

New starts on both multifamily and single-family construction slipped more than expected in March, declining 8.8% overall from an upwardly revised February level, according to Census Bureau figures released Tuesday. The annualized rate of 1.09 million starts came in below the median estimate of 1.166 million from economists polled by Bloomberg Business. However, on a year-over-year basis single-family starts are up by double-digit figures.

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