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April 17, 2015

Builders started fewer homes in March

  • Many economists still expect strong job growth and low mortgage rates to bolster housing this year.
  • By JOSH BOAK
    AP Economics Writer

    WASHINGTON — U.S. homebuilders opened the spring buying season in March at a slower pace than last year, a warning that recent hiring gains have failed to translate into a stronger real estate market.

    Construction firms broke ground at a seasonally adjusted annual rate of 926,000 homes last month, a 2.5 percent decline from the pace in March 2014, the Commerce Department said Thursday.


     
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