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April 19, 2017

Housing starts drop 6.8%, still stronger than in 2016

By JOSH BOAK
AP Economics Writer

WASHINGTON — U.S. builders broke ground on fewer homes in March, but the pace of construction so far this year remains stronger than in 2016.

Housing starts fell 6.8 percent last month to a seasonally adjusted annual rate of 1.22 million, the Commerce Department said Tuesday. The setback came after strong gains in a warmer-than-usual February. Groundbreakings on new homes are still 8.1 percent higher through the first three months of this year compared with 2016.


 
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