Bright Spot in Down Housing Data

By JUSTIN LAHART MAY 19, 2009

New-home construction in the U.S. fell to a new low last month. But an increase in the construction of single-family homes suggests the slump in home building is drawing to a close.

In April, the pace of construction starts fell to an annual rate of 458,000 new homes, a 12.8% drop from March. That was the lowest level since 1959, when the Commerce Department began tracking the figures.

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