House construction in the U.S. declined in October more than expected, while the number of permits for single-family homes tumbled, another sign of growing reluctance among home builders to increase inventory as many buyers are pushed out of the market.
Residential starts — including both single- and multi-family units — decreased 4.2% last month to a 1.425 million annualized rate, according to government data released Thursday. Economists surveyed by Bloomberg had forecast a 2.0%…
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