Home construction tumbled in February, with major snowstorms crippling business already hobbled by foreclosures. More EconTracker: Where are housing starts headed? Odd Way to Measure Mortgage Modifications Separately, U.S. import prices in February posted their first monthly drop since July 2009, dragged down by lower fuel prices, indicating the Federal Reserve need not worry about inflation building up in the economy. Housing starts decreased by 5.9% to a seasonally adjusted 575,000 annual rate compared to the prior month, the Commerce Department said Tuesday. While that was the biggest decline in four months, it followed an upward revision in the previous month's data, when starts staged a 6.6% gain. January starts were originally reported up 2.8%. February's homebuilding activity remained above the level of 573,000 registered in December. Economists surveyed by Dow Jones Newswires forecast a 4.7% drop in February housing starts, to an annual rate of 563,000. Breaking down the figures on starts, construction of single-family homes starts decreased 0.[Read more...]