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New-home construction plunged in April

May 30, 2011 By

New-home construction plunged in April

The April drop in new-home construction was largely because apartment and condominium building plunged more than 28 percent. Single-family home construction, which makes up roughly 80 percent of the market, fell about 5 percent. Construction of new homes plummeted in April, dragged down by a major drop in apartment building and pointing to prolonged weakness in the housing sector.




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