Groundbreaking for new U.S. home construction slumped in November, sliding 18.9% to a seasonally adjusted annual rate of 625,000 units as building permits dropped 15.6% to an annual rate of 616,000 units, according to Commerce Department data released yesterday.

The rate for housing starts failed to meet the 740,000 level predicted by Thomson Reuters’ poll of economists. Thomson additionally had projected a 700,000 rate for permits.

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