US homebuilding retreats; manufacturing turning the corner

WASHINGTON, April 16 (Reuters) – U.S. single-family homebuilding tumbled in March, and while new construction remains underpinned by a severe shortage of previously owned houses for sale, a resurgence in mortgage rates is pushing potential buyers to the sidelines. The report from the Commerce Department on Tuesday also showed permits for future construction of single-family houses fell to a five-month [&hellip

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