With growth estimates so far for the second quarter around 2 percent, the economy appears poised for its worst first-half performance since 2011.
A surge in bank repossessions of properties last month pushed overall foreclosure activity across the United States to an 18-month high, according to a report by industry firm RealtyTrac.
US home building surged in April to the highest level since before the recession. US housing starts rose 20.2% from a month earlier to a seasonally adjusted rate of 1.14 million in April, according to the Commerce Department. That was the highest reading since November 2007.
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