REAL ESTATE
From Times Staff and Wire Reports
New-Home Completions Down 8.5% in April: The completion of new homes plunged 8.5% in April, the Commerce Department said, adding to signs of spreading weakness in the housing industry. The sharp fall in the number of homes ready for sale or occupancy followed revised increases of 2.2% in March and 5.2% in February and a rise of 2.2% in January, when housing was a key sector helping the economy pull out of recession. Building industries benefited from exceptionally mild weather at the start of 1992 that boosted activity, but there are several indications that housing lost momentum in April and may have difficulty recovering it.
