| October 17th, 2019 8:34 AM
US home construction fell 9.4% last month
WASHINGTON (AP) — U.S. home building fell last month, driven by a sharp decline in the construction of new apartments.
The Commerce Department said Thursday that housing starts dropped 9.4% to a seasonally adjusted annual rate of 1.26 million. The construction of new apartments plunged 28.3% to an annual pace of 327,000.
On a brighter note, single-family home building ticked up 0.3% to an annual rate of 918,000.