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May 17, 2013

U.S. housing starts fall, but building permits surge

  • The housing market was dragged down by a 39 percent drop in multifamily construction.
    • By MARTIN CRUTSINGER
    AP Economics Writer

    WASHINGTON — U.S. builders broke ground on fewer homes in April, one month after topping the 1 million mark for the first time since 2008. But most of the decline was in apartment construction, which tends to vary sharply from month to month.

    And applications for new construction reached a five-year peak, evidence that the housing revival will be sustained.


     
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