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Housing starts dipped in December

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(Read caption) Housing starts in the US fell by more than 9 percent from November to December. Although construction rates have increased from the levels reported during the last recession, they are still below those reported in 2005.

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Today’s New Residential Construction Report showed a notable declines to both total permit activity and total start activity with starts dropping 9.8% from November.

Single family housing permits, the most leading of indicators, declined 4.8% from November to 610K single family units (SAAR), and  increased 4.5% above the level seen in December 2012 but still remained well below levels seen at the peak in September 2005.

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