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Commerce Department: Housing Starts Down 2.7 Percent in July

Friday, August 16, 2002 - 7:00AM

The pace of nationwide housing starts slowed 2.7 percent in July to a seasonally adjusted annual rate of 1.65 million units, according to figures released today by the U.S. Department of Commerce. Multifamily starts declined 4.7 percent to a rate of 328,000 units; the average for multifamily starts in the second quarter of 2002 was 337,000 units.

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