US housing starts down sharply on drop in single-family units
U.S. homebuilding fell more than expected in December, recording its biggest drop in just over a year, amid a steep decline in the construction of single-family housing units following two months of hefty gains. Housing starts decreased 8.2 percent to a seasonally adjusted annual rate of 1.192 million units, the Commerce Department said recently. November’s sales pace was revised up to 1.299 million units from the previously reported 1.297 million units.
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