WASHINGTON ( TheStreet) -- Homebuilders began construction on 14.6% more homes in January, better than expected, while applications for building permits dropped 10.4%.
The Commerce Department said early Wednesday that housing starts came in at a seasonally adjusted annual rate of 596,000 in January. The figure compares with a
Applications for building permits dropped 10.4% to a seasonally adjusted annual rate of 562,000, much lower than the revised December rate of 627,000. December's building permits rate was originally reported at 635,000.
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