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WASHINGTON, DC-Residential construction permits in October reached their highest level since June 2008, climbing 6.2% from the previous month’s tally of 974,000 to an annualized 1.03 million permits, according to Commerce Department figures released Tuesday. The October tally was up 13.9% year-over-year from 908,000.

The fastest-growing segment was multifamily properties of five or more units, for which 387,000 permits were issued last month. Singe-family homes increased less than 1% from September.

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