US Housing Starts Fall to Lowest Since May in Broad Decline
New homes under construction in Vacaville, California.
Photographer: David Paul Morris/BloombergHousing starts in the US fell last month to the lowest since May, as bloated home inventory slowed builders’ appetites to boost production.
New residential construction decreased 8.5% last month to an annualized rate of 1.31 million homes, government data released Wednesday showed. The median forecast in a Bloomberg survey of economist was for 1.37 million starts.