Following an exceptionally strong pace set in this year's first half, U.S. housing starts slowed 2.2 percent to a still-healthy seasonally adjusted annual rate of 1.6 million units in August, the Commerce Department reported. The decline was confined entirely to the single-family sector and was largely focused in the Midwest, where rainfall was above normal for the month.
“Solid market fundamentals — including historically low mortgage rates and lean builder inventories — plus the res
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