U.S. builders broke ground for fewer homes in March, and permits fell to a record low, as home builders sought to rein in inventory amid rising foreclosures.

Housing starts fell 10.8%, to an annual rate of 510,000, the Commerce Department said Thursday.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.