California housing starts were unchanged in June.
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According to a monthly survey from Bank of America, new-home construction reached 218,900 on an annualized basis, virtually unchanged from May’s activity. Single-family starts fell 3.5% to 97,200 units in June, while multifamily construction rose 4.3% to 121,700 units, the bank said. Meanwhile, home resales declined 15% in June, the survey said.
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