U.S. home starts reach highest level since 2007 in broad advance

HOME CONSTRUCTION INCREASED IN AUGUST to its fastest pace since 2007, with both apartment projects and single-family homes showing strength despite greater fears of an economic slowdown. / BLOOMBERG NEWS FILE PHOTO/LUKE SHARRETT
HOME CONSTRUCTION INCREASED IN AUGUST to its fastest pace since 2007, with both apartment projects and single-family homes showing strength despite greater fears of an economic slowdown. / BLOOMBERG NEWS FILE PHOTO/LUKE SHARRETT
WASHINGTON – U.S. home construction surged in August to the fastest pace since mid-2007 on more apartment projects and single-family houses, a welcome sign for the housing sector that has struggled to gain momentum. Residential starts climbed 12.3% to a 1.36 million annualized rate after an upwardly revised 1.22 million pace in the prior month, according…

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