Housing Starts Increase By 1.5% In August

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With new construction of multi-family homes showing a significant rebound, the Commerce Department released a report on Thursday showing that housing starts increased by much more than expected in the month of August.

The report showed that housing starts rose 1.5 percent to an annual rate of 598,000 in August from the revised July estimate of 589,000. Economists had expected starts to edge up to 583,000 from the 581,000 originally reported for the previous month.

With new construction of multi-family homes showing a significant rebound, the Commerce Department released a report on Thursday showing that housing starts increased by much more than expected in the month of August. (Market News Provided by RTTNews)