US Home Construction off to Weak March Start

April 16, 2015 12:47 PM

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U.S. homebuilders opened the spring buying season in March at a slower pace than last year, a warning that recent hiring gains have failed to translate into a stronger real estate market.

Construction firms broke ground at a seasonally adjusted annual rate of 926,000 homes last month, a 2.5 percent decline from the pace in March 2014, the Commerce Department said Thursday.

Also read: Economy: Jobless claims drop to lowest since 1973; housing starts jump 11%

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