Tuesday, July 20, 2010

More trouble in US housing market on the way

U.S. housing starts drop 5% to 8-month low

Ground-breaking on new housing units fell sharply after a federal tax credit for buyers expired, putting the housing sector back in the dumps where it was a year ago, according to Commerce Department data released Tuesday. After a 15% drop in May, housing starts fell another 5% in June to a seasonally adjusted annual rate of 549,000, the lowest level in eight months, the Commerce Department estimated.

Posted by rob @ 02:28 PM (712 views)
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