Housing Starts Down in June from May's Exceptionally Strong Pace

Following a very strong performance in May, the pace of nationwide housing starts slipped by 3.6 percent in June to a seasonally adjusted annual rate of 1.67 million units, the Commerce Department reported. The June rate was still up by 2.4 percent from a year earlier and exceeded the average pace for 2001 by a wide margin.

“We had expected a modest decline in housing starts for June, and July 17's report actually confirms the continuing health and stability of the nation's housing ma

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