Housing Starts Edge Down In August

The pace of new-home construction edged down slightly in August but remained at a seasonally adjusted annual rate above 2 million units for the fifth month in a row, according to government figures released. The Commerce Department indicated that the effect of Hurricane Katrina on the August housing report was “minimal.”

Total housing starts dipped 1.3 percent for the month to a seasonally adjusted annual rate of 2.009 million units, following a downward revision to the July rate. Thi

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