(Photo: Reuters)
The Commerce Department reports housing starts, or new home construction rose 6.5% in September to an annualized rate of 1.206 million units, above expectations for a rise to 1.150 million units. Permits to build new homes, meanwhile, declined 5% to an annualized rate of 1.103 million units, compared to expectations for a gain to 1.164 million units.
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