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November 19, 2015

Housing starts drop 11 percent in October

By JOSH BOAK
AP Economics Writer

WASHINGTON — Apartment construction plunged sharply in October, as the pace of homebuilding slipped amid a broader cooling of the real estate market.

Housing starts — both houses and apartments— fell last month 11 percent to a seasonally adjusted annual rate of 1.06 million homes, the Commerce Department said Wednesday.


 
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