Construction of new homes declined nationwide in August to its lowest level in 17 years. Housing starts fell 6.2 percent to a seasonally adjusted annual rate of 895,000, its lowest since 798,000 in 1991, the Commerce Department said. Groundbreakings for new single-family homes and building permit issuance also fell. Building permits, a longer term measure of new home construction, fell 8.9 percent to 854,000 in August, its lowest since 853,000 in 1991.
Housing starts decline nationwide
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