US housing starts fall as multi-family units decline

Washington

US homebuilding unexpectedly fell in July as the construction of multi-family houses tumbled to a 10-month low, but strong job growth is expected to continue to support the housing market recovery.

Housing starts declined 4.8 per cent to a seasonally adjusted annual rate of 1.16 million units, hurt also by a drop in groundbreaking on single-family projects, the Commerce Department said on Wednesday.

June's sales pac…