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US housing starts total 1.35 million in May, vs 1.31 million starts expected

US housing starts total 1.35 million in May, vs 1.31 million starts expected

U.S. homebuilding surged to near an 11-year high in May amid an acceleration in both single-family and multi-family home construction, but a second straight monthly drop in permits suggested housing market activity will remain moderate.

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