U.S. housing starts stabilize as building permits edge up

UNITED STATES residential home starts dropped 0.9% to a 1.27 million annualized rate in April after a revised 1.28 million pace in the prior month. / BLOOMBERG NEWS FILE PHOTO/LUKE SHARRETT
UNITED STATES residential home starts dropped 0.9% to a 1.27 million annualized rate in April after a revised 1.28 million pace in the prior month. / BLOOMBERG NEWS FILE PHOTO/LUKE SHARRETT
WASHINGTON – United States new-home construction fell in May after an April reading that was stronger than initially reported, signaling stabilization in the market amid lower borrowing costs. Residential starts dropped 0.9% to a 1.27 million annualized rate after a revised 1.28 million pace in the prior month, according to government figures released Tuesday that…

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