Saturday, April 20, 2019

U.S. Homebuilding Near Two-Year Low; Permits Extend Decline

U.S. homebuilding dropped to a near two-year low in March, pulled down by persistent weakness in the single-family unit segment, suggesting the housing market continued to struggle despite falling mortgage rates.


The second straight monthly decline in homebuilding reported by the Commerce Department on Friday probably reflected in part massive flooding in the Midwest, with housing starts in the region plunging to levels last seen in early 2015.

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