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US housing starts surges 10%

US housing starts surges 10%

Mubasher: Homebuilding in the United States has increased to more than a one-year high in January, as reported by Reuters on Friday.

Housing starts went up 9.7% to 1.326 million units, reaching its highest level since October 2016, as shown by the data of the US Department of Commerce.

Building permits rose by 7.4% to a rate of 1.396 million units in January, the highest level since June 2007.