Home Building Market Falling

Home Building Market Falling

The closely watched home building market showed more signs of trouble as a report showed builders slowed their pace of housing starts and building permits fell more than expected in July.

Housing starts came in at an annual pace of 1.795 million, according to a Census Bureau report, down from the 1.84 rate in June, which was revised lower. It is also less than the forecast of 1.81 million of economists surveyed by Briefing.com.

Building permits, seen as a measure of builder confidence, fell to an annual rate of 1.747 million from a 1.869 million pace. Economists had forecast a decline to 1.84 million.

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