Housing Starts Decline

Single-family housing starts fell 3.0% in April after a strong rebound in March, continuing a see-saw pattern that has prevailed so far this year.The Census Bureau reported that single-family housing starts declined from a seasonally adjusted annual rate of 1.40 million in March to 1.36 million in April. Housing starts overall fell by 6.8% from the revised level for March, but were 2.7% higher than the level recorded in April 2002, the bureau said. Single-family housing permits rose 1.2% in April, climbing from a seasonally adjusted annual rate of 1.31 million in March to 1.33 million, according to the agency.

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