December Housing Starts Down 14.2%

While single-family housing starts declined a relatively modest 2.9 percent to a seasonally adjusted annual rate of 794,000 units in December, multi-family housing starts suffered a double-digit decrease that dragged down total housing starts for the month to a 14.2 percent decline, according to newly released data from the U.S. Commerce Department. This sharp reduction in the volatile multi-family sector contributed to a drop in the monthly nationwide housing rate to one million units, the

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