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Pace of Housing Starts Drops 11.4 Percent in October

Wednesday, November 20, 2002 - 1:45AM

The nationwide pace of housing starts slowed by 11.4 percent to a seasonally adjusted annual rate of 1.6 million units in October, according to Commerce Department figures released today. Single-family starts fell 7 percent in October to a 1.35 million-unit pace, while multifamily starts dropped by more than 29 percent to a 253,000-unit rate.

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