NEW YORK (CNNMoney) -- The housing market just can't seem to catch a break.
The number of permits issued in February for future housing construction fell to a new all-time low, according to a government report released Wednesday.
Building permits fell to an annual rate of 517,000 permits last month, down 8.2% from a revised 563,000 in January, the Commerce Department said.
That was the lowest level seen since the government started tracking the figures in 1959, and much worse than economists had expected.
"It's consumer nervousness," said David Crowe, chief economist with the National Association of Home Builders. "It's a fragile recovery to begin with, and then you throw in high energy costs, new uncertainties about Congress, and it's just enough to spill over the glass again."
Builders rushed to secure permits in December and start building in January to get ahead of new zoning laws, but that effect should have been minimal on February's numbers, Crowe said.
Instead, both permits and new construction remain more than 20% below their prior-year levels.
"Bottom line is that here in the 20th month of the economic recovery, the sector that normally leads both recessions and expansions has yet to gain any traction," David Resler, chief economist for Nomura Securities, said in a research note.
New home construction also dropped more than expected in February, falling at its fastest rate since March 1984.
Housing starts, the number of new homes being built, fell 22.5% to an annual rate of 479,000 in February, down from a revised 618,000 in January, the Commerce Department said.
Economists had forecast the figure to fall no further than 545,000 in February.
Single-family home construction fell 11.8% during the month, but a huge decline in apartment building was an even bigger drag on the overall number.
Shares of Amazon have been on fire lately. Investors are bullish after the company's latest earnings. Even Warren Buffett is a big fan of Amazon CEO Jeff Bezos -- even though Berkshire Hathaway does not own Amazon stock. More
It's getting worse for Puerto Rico. The island defaulted on $422 million in bonds related to its Government Development Bank on Monday. Congress is currently debating an aid package for the island. More
Tech leaders Apple, Alphabet and Microsoft all disappointed Wall Street with their latest earnings reports. And that's dragged the Nasdaq back near correction territory. Is this the beginning of another huge pullback or an overreaction? More
In 1998, Ntsiki Biyela won a scholarship to study wine making. Now she's about to launch her own brand. More