July Housing Starts Continue Strong Pace

New-home construction continued at a vigorous pace in July, the U.S. Commerce Department reported. Housing starts dipped 0.1 percent for the month to a seasonally adjusted annual rate of 2.042 million units following upward revisions to the May and June rates. The pace of starts in July was 2.8 percent above a year ago and remained above 2 million units for the fourth month in a row.

Single-family home construction edged up 0.5 percent to a pace of 1.711 million units for the month. T

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