October Housing Starts Decline after 16-Year High in September, but Permits Rise

Following historically strong housing production in September, builders slowed the rate at which they began new homes and apartments by 11.4 percent to a still-healthy seasonally adjusted annual rate of 1.6 million units in October, according to Commerce Department figures. But the rate at which new permits were issued continued to move upward, paving the way for stronger housing production in coming months.

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