Housing Starts Decline 6.2% in August

Nationwide housing starts declined 6.2 percent in August as home builders continued to cut back on new construction in order to scale back their inventories and help pave the way for a housing market recovery, according to figures released by the U.S. Commerce Department.

“Builders understand that there is still a substantial amount of unsold inventory to be worked down, and they continue to do the right thing by reducing production and pulling fewer permits for new homes to help rest

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