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Nationwide Housing Starts Drop 6.9 Percent in August

Thursday, September 20, 2001 - 7:00AM

Due primarily to a drop-off in multifamily production, nationwide housing starts declined 6.9 percent in August to a seasonally adjusted annual rate of 1.53 million units, according to a Commerce Department report released today. The National Association of Home Builders notes that today's report indicates that prior to the September 11 terrorist attacks, the nation's housing market was operating at a strong, but somewhat slower pace than it had been in the first half of 2001, but above the pace set in the same period last year.

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