Housing starts continue to see annual gains in July

Construction permits for new homes at highest level in 4 years

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Housing starts, though dipping 1.1 percent in July from June, were up 14.2 percent on a year-over-year basis, continuing a steady upward trend.

July groundbreakings were at a seasonally adjusted annual rate of 746,000, down from June’s adjusted rate of 754,000, but up from July 2011’s rate of 614,000,