Housing starts fall off, but single-family permits rebound

A worker measures wood for a house under construction at the KB Home Vineyard Crossing Community in Livermore, California. David Paul Morris | Bloomberg | Getty Images
A worker measures wood for a house under construction at the KB Home Vineyard Crossing Community in Livermore, California.
David Paul Morris | Bloomberg | Getty Images

REUTERS

U.S. housing starts fell more than expected in August as building activity declined broadly after two straight months of solid increases, but a rebound in permits for single-family dwellings suggested demand for housing remained intact.

Groundbreaking decreased 5.8 percent to a seasonally adjusted annual pace of 1.14 million units, the Commerce Department said on Tuesday. July’s starts were unrevised at a 1.21 million-unit pace.

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