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January 19, 2018

Home construction tumbled 8.2 percent in December

By JOSH BOAK
AP Economics Writer

WASHINGTON — Groundbreakings on new homes fell 8.2 percent in December, with builders ending 2017 by slowing down their construction of single-family houses.

The Commerce Department said Thursday that the monthly decline put U.S. housing starts at a seasonally adjusted annual rate of 1.19 million units. Almost all of the decrease came from builders beginning work on fewer single-family houses, a reversal from the robust gains reported in October and November.


 
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