Total housing starts dropped 5.3 percent in June to a seasonally adjusted annual rate of 1.850 million units, according to figures released by the Commerce Department. This was 11 percent below the pace of a year ago.
Single-family housing starts were down 6.5 percent for the month to a pace of 1.486 million units, a 13.8 percent drop from the June 2005 pace. Multifamily housing construction was up 0.3 percent for the month to a seasonally adjusted pace of 364,000 units.
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