US housing dips slightly but keeps solid pace

US home construction dipped slightly in January, but is still off to a solid pace.

Housing starts fell to a seasonally adjusted annual rate of 890,000 last month, according to the Commerce Department.

That’s down 9-percent from December when there was a spike related to repairs for Superstorm Sandy.

Applications for building permits rose to an annual rate of 925,000 in January.

That’s the best month for permits since 2008.

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