Housing starts fall on multi-family drag (Reuters)

WASHINGTON (Reuters) ? Housing starts fell less than expected in October as a drop in groundbreaking for multi-family units narrowly outweighed more new construction of single family homes.

The Commerce Department said on Thursday housing starts edged down 0.3 percent to a seasonally adjusted annual rate of 628,000 units. Analysts had expected the annual rate would fall to 610,000.

Housing starts for buildings with two or more units fell 8.3 percent to a 198,000-unit rate. Single-family home construction -- which accounts for a larger share of the market -- increased 3.9 percent to a 430,000-unit pace.

(Reporting by Jason Lange, Editing by Chizu Nomiyama)

Source: http://us.rd.yahoo.com/dailynews/rss/personalfinance/*http%3A//news.yahoo.com/s/nm/20111117/bs_nm/us_usa_economy_housing

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