June Single-Family Home Starts Decline

Responding to worsening conditions in the nation’s housing and financial markets, single-family home builders continued to slow the pace of new construction in June, according to the latest data released by the U.S. Commerce Department.

Starts of new single-family homes declined 5.3 percent to a seasonally adjusted annual rate of 647,000 units in June. This was the slowest pace in 17 years, and marked a decline of 64.5 percent from the peak of the building boom in January of 2006. Mea

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