Housing Starts Slow

The U.S. housing bubble deflated some in October.

Starts for privately owned housing were at a seasonally adjusted annual rate of 2.014 million last month, 5.6% below the revised September rate of 2.134 million, the U.S. Commerce Department and the U.S. Department of Housing and Urban Development jointly reported on Nov. 17.

The start rate for single-family homes was at an annual rate of 1.704 million in October, 3.7% below September's 1.77 million rate. The start rate for buildings with five or more units was at an annual rate of 271,000 in October, 11.7% below the rate of 307,000 in September.

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