(AXcess News) Washington - An economic slowdown has caused homebuyers to think twice about buying a new home as inflation drove up living costs for most Americans thanks to a spike in energy prices and growing concerns in the workplace. New-home construction in August fell 6 percent, the Commerce Department reported, with new-home construction down nearly 20 percent compared to the same period last year when the boom inhousing was still at its peak.

Builders slowed the pace of single-family home construction by 5.9 percent for the month to 1.360 million units, a 20.6 percent drop from a year earlier.

Construction GURUS

Most owners choose the floor plan, finishes and fixtures that go into their custom-built homes. Juan Guevara made those choices and more. He selected each interior and exterior component and confirmed every detail in building his $1 million home in Delaware County. He also hand-picked the roofer, framer, excavator, drywall installer and a host of other subcontractors. Guevara made the decision to be his own general contractor, a choice more homeowners are making in projects big and small. He said his decision to manage the project has saved him a significant amount of money and given him more control over the project. "We went to many custom builders and found that, with the money we would save, we could have more house. I expect to save about $200,000," he said. "With a builder, you dont have as much control." Guevara, the owner of a flooringinstallation company, now has a second full-time job making sure the subcontractors show up when they are needed and that they follow the detailed plans drawn by an architect.