New home construction fell to an 18-month low in October, the government said Wednesday. Housing starts, or the number of new homes being built, fell 11.7% to a seasonally adjusted annual rate of 519,000 in October, down from a revised 588,000 in September, the Commerce Department said. The annual rate is the lowest since the 477,000 starts reported for April 2009.
The west's 91,000 annualized figure is the second lowest total in more than 50 years.
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