Building Starts Rise 7% MTM in March

NAHB Chief Economist David Crowe said the data was a “mixed bag” due to the opposite directions of single- and multi-family starts and a weaker amount of permit issuance.


The U.S. Census Bureau said privately-owned housing starts in March were at a seasonally adjusted annual rate of 1,036,000, 7% above the revised February estimate of 968,000 and 46.7% above the March 2012 rate of 706,000. Single-family housing starts in March were at a rate of 619,000, 4.8% below the revised February figure of 650,000. The March rate for units in buildings with five units or more was 392,000.
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