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US Home Construction Slumped in August; Big Dip in the South

Homebuilders pulled back on construction in the South, causing the pace of August housing starts nationwide to fall to their lowest level in three months. Despite the monthly decline, construction activity has accelerated for much this year. Builders are increasingly optimistic about sales growth, a reflection of how steady job gains are leading more Americans to purchase new houses and sign leases for new apartments. In August, ground breakings dropped 5.8 percent to a seasonally...

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