A construction worker stands on the roof of a condo complex under construction in Berkeley, California. (Photo by Justin Sullivan/Getty Images)
Home construction plunged in August, led by a steep decline in the volatile apartment category. Single-family house construction fell by a modest amount. Construction fell 14.4 percent in August to a seasonally adjusted annual rate of 956,000 homes, the Commerce Department said Thursday. This reverses the sharp gains in July when the rate of new construction rose to 1.12 million homes, the highest annual rate since 2007. [Full Story]
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