Housing starts bumped up slightly in April, while new building permits dropped to the slowest pace since June 1997, according to figures released by the Commerce Department.
Housing starts increased 2.5 percent in April to a seasonally adjusted annual rate of 1.528 million units, following downward Commerce Department revisions for the two previous months. Starts were down 16.1 percent from a year earlier.
Building permits, a more reliable indicator of housing construction act
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