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New US homebuilding jumps sharply in June

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Washington (AFP) – Construction projects started in the hot US housing market jumped sharply in June, according to government data Tuesday, offering hope more homes will come on the market and ease the supply crunch. Housing starts increased 6.3 percent compared to May surging to an annual rate of over 1.6 million units, seasonally adjusted, the Commerce Department reported. And new construction of single-family homes also jumped 6.3 percent to nearly 1.2 million annualized, according to the report. Any relief will be welcome in the US market which has boomed throughout the pandemic, driven by…

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