Housing starts decline for third straight month

Washington

HOUSING starts declined 1.6 per cent to a 1.03 million annualised rate in November for a third consecutive month, continuing a slow recovery in the housing market.

The figure fell from a 1.05 million pace in October that was stronger than previously estimated, figures from the Commerce Department showed on Tuesday in Washington. The last time starts exceeded one million for three months straight was in early 2008.