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New US home construction falls in August

New home construction sank in August amid elevated mortgage rates, according to data from the U.S. Census Bureau.

News 12 Staff

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Sep 19, 2023, 3:33 PM

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New home construction sank in August amid elevated mortgage rates, according to data from the U.S. Census Bureau.

New construction dropped 11% from July’s levels as housing starts slipped to their lowest level since June 2022.

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