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U.S. housing starts fall to 5-month low; building permits weak

Reuters  |  WASHINGTON 

By Lucia MutikaniWASHINGTON (Reuters) - U.S. homebuilding unexpectedly fell in April to the lowest level in five months amid persistent weakness in the construction of multi-family housing units, suggesting a slowdown in the housing market recovery.Housing starts dropped 2.6 percent to a seasonally adjusted annual rate of 1.17 million units also as single-family homebuilding rebounded modestly, the Commerce Department said on Tuesday. April's reading was the lowest level since last November and followed a downwardly revised rate of 1.20 million units in March.Economists polled by Reuters had ...

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First Published: Tue, May 16 2017. 18:44 IST
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