Housing starts fall 5% overall from May, single-family home construction is down 0.7% and apartment construction declines nearly 20%, the government says. It’s the latest sign of trouble in the housing market.
New residential construction dropped in June, another indication that the U.S. housing market is struggling.
Housing starts fell 5% in June from May, to a seasonally adjusted annual rate of 549,000, the Commerce Department reported Tuesday. That was 5.8% below the June 2009 rate.
Single-family home construction fell 0.7% in June from May, and construction of apartment buildings dropped nearly 20%.
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