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US housing starts down sharply on drop in single-family units

from Reuters

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. more


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