9/19/2012 9:15:00 AM
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Housing starts rose 2.3% in August, the Commerce Department said Wednesday.
Starts rose to an annual rate of 750,000 units, from a revised 733,000 in July, which were originally reported at 746,000.
The August level was lower than economists’ median forecast of a 767,000 rate, Bloomberg reported.
Single-family home starts rose 5.5% to a 535,000 rate, the fastest since April 2010.
Work on multifamily units, which are often more volatile, dropped 4.9 % to an annual rate of 215,000.
Starts rose 21% in the Midwest and 3.7% in the South.
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