Multifamily Housing Starts Plunge in June

The residential real-estate rebound suffered a setback in June as housing starts unexpectedly fell to the lowest level in almost a year, according to a July 17 Bloomberg report.The drop was led by a 26.2 percent plunge in multifamily projects.

However, the monthly drop should not be "immediately concerning," said Guy Lebas of Janney Montgomery Scott LLC in the article. "The housing markets are going to be a driver of economic growth."

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