Housing Starts Climb to Seven-Year High
Housing
starts were up 0.2 percent in July, rising to a seasonally adjusted annual rate
of 1.206 million units, the Commerce Department said yesterday. Starts -- up
10.1 percent from a year ago -- reached the highest level since October 2007.
Permits for new construction, which are considered a gauge of future demand,
fell 16.3 percent to an annual rate of 1.119 million.
--ABA Daily Newsbytes
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