NEW YORK (CNNMoney.com) — Initial construction of U.S. homes was higher than expected last month, although down from the prior month as single-family housing starts reached a 17-year low.
Privately owned housing starts fell to a seasonally adjusted 1,065,000 annual rate in February, according to the Census Bureau report released Tuesday. The rate was down 0.6% from January, 28.4% from a year earlier, and 55% from the peak it reached just over two years ago.
But the number topped the 995,000 consensus of economists surveyed by …
