Apartment construction slows sharply

A sharp pullback in apartment and condominium construction led to a big decline in overall home building in April, even as single-family home construction remained strong, according to government data released Thursday.

The Census Bureau reported that housing starts fell 17% in the month to an annual pace of 853,000. The decline was driven by a 38% drop in starts of buildings with five or more apartments or condo units in them.  Read more

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