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U.S. housing starts fall to new low PDF Print E-mail
Written by Tom Philp   
WASHINGTON - The U.S. Census Bureau reported Tuesday that housing starts in that country fell 11 per cent June to July, and 29.6 per cent lower than starts in July 2007.

The bureau said the seasonally adjusted annual rate of 965,000 starts was well below the revised June rate of 1,084,000 starts. About 1.37 million homes were started in July 2007.

Building permits issued in July were 17.7 per cent below June's revised rate of 1.14 million permits issued and 32.4 percent below July 2007, when 1.39 million permits were issued, the report said.

Housing completions also fell in July when just over one million privately owned homes were completed, an 8.7 per cent drop from June's 1.13 million completions.

Single-family-home completions fell 7.2 per cent to an estimated 791,000, while multi-unit completions for homes with five or more units came in at a seasonally adjusted annual rate of 229,000.

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