Mortgage And Real Estate News

Saturday, September 20, 2014

Despite Builders’ Optimism, Housing Starts Tumble 14%

Nationwide housing starts plunged in August, mostly attributed to a 31.7 percent decline in the multifamily market, the U.S. Department of Housing and Urban Development and U.S. Census Bureau reports.

Overall, housing starts – reflecting both multifamily and the single-family construction – were down 14.4 percent in August, reaching a seasonally adjusted annual rate of 956,000 units.

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Reuters: Business News

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