Seattle Bubble Forum Archive

I see that a report issued today showed that construction of new homes fell to the lowest level in 17 years. Does anyone know the statistics of what percentage of "new home" construction consists of brand-new homes and not replacement homes (as I use those terms below). I assume that some homes just get too old and are demolished, or are destroyed by fire, flood, earthquake, hurricane and by other means. So, for example, if there have been 10 million new homes built in 2007, but three million older homes had been demolished or destroyed in 2007, then there would be seven million "new homes" and three million "replacement homes" as I use those terms in this post. Anyone know the actual figures?