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April 18, 2007

Home construction rises for 2nd month

WASHINGTON (AP) — Construction of new homes rose for a second straight month in March, providing at least the glimmer of hope that the worst of the housing downturn may be over.

The Commerce Department said that builders started work on 1.518 million new homes at a seasonally adjusted annual rate in March, an increase of 0.8 percent. In February, housing construction had risen by 7.6 percent.


 
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