Housing starts fell 2.6 percent in August to a seasonally adjusted annual rate of 1.331 million units as the downswing in the housing market continued, according to figures released by the Commerce Department. Starts were down 19.1 percent from a year earlier, falling to the lowest level in 12 years.
Starts of new single-family homes were down 7.1 percent for the month to a seasonally adjusted annual rate of 988,000 units. The August pace for single-family construction was 27.1 percen
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