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RealEstateJournal Drop in U.S. Housing Starts Underlines a Slowdown


Drop in U.S. Housing Starts
Underlines a Slowdown

By Joi Preciphs and Kemba Dunham

Signs of a housing slowdown intensified as home construction fell sharply last month, and a deep-discount deal offered by a major home builder in one of its pricier markets suggested the industry may be feeling some anxiety.

Meanwhile, two other big home builders, D.R. Horton Inc. and Beazer Homes USA Inc., reported solid quarterly earnings growth, but analysts said Horton looks better positioned to cope with a downturn.

Some builders appear anxious, however. On the Web site 12hoursalebycentex.com, Centex Corp., a builder based in Dallas, is offering buyers who show up between 10 a.m. and 10 p.m Saturday at almost any new Centex neighborhood in northern California as much as $100,000 off the price of selected home sites.