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U.S. Housing Starts Fell in April for Third Time in Four Months

U.S. new-home construction in April declined modestly for the third time in four months, a trend that is likely to worsen supply shortages and push prices higher at a time of swelling demand.

Housing starts declined 2.6% in April from the previous month to a seasonally adjusted rate of 1.172 million, the Commerce Department said Tuesday. Single-family starts increased by 0.4% from March, while multifamily starts fell 9.6%, the fourth…

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