New Construction Housing Starts in October: Lowest Level Since 1959

Nationwide housing starts fell to their lowest since the US Census Bureau began tracking the numbers in 1959.There's a nationwide overhang of inventory. In the Charlottesville area, the number of new and existing unsold houses is at a 15 month inventory level (or higher)--meaning it would take this long to sell off all of the properties.This doesn't include unfinished new houses and condominiums