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May 20, 2015

Homebuilders off to fastest pace in 7 years

  • The stepped-up construction is helping boost sales at stores like Home Depot and Lowe's.
  • By JOSH BOAK
    AP Economics Writer

    WASHINGTON — The U.S. housing market has given a sudden jolt to what appeared to be a slumping economy.

    Builders broke ground on homes last month at the fastest pace in more than seven years. The stepped-up construction is helping boost sales at stores like Home Depot and Lowe's and improving the likelihood that the U.S. economy will accelerate after likely shrinking early this year.


     
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