Residential Construction Sags in December

The home construction market slowed down last month, as the U.S. Census Bureau said privately-owned housing starts in December were at a seasonally adjusted annual rate of 557,000, four percent below the revised November estimate of 580,000, but 0.2 percent above the December 2008 rate of 556,000.

Single-family housing starts in December were at a rate of 456,000; 6.9 percent below the revised November figure of 490,000. The December rate for units in buildings with five units or more

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