Starts increase for single-family houses

02/20/2013 | Reuters

Total U.S. housing starts declined 8.5% last month, but builders broke ground on the most single-family homes since July 2008, the Commerce Department says. A sharp drop in multifamily construction, traditionally a volatile indicator, drove the overall decline, the department says. Permit issuance, an indicator of future construction, reached its highest level since June 2008.

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