Housing Starts Rose Less Than Expected in March

By Jann Swanson

Posted To: MND NewsWire

The rate of permitting for construction of single family housing and residential construction completions were both down in March, Housing starts did rise slightly. The Census Bureau and the Department of Housing and Urban Development reported that permits for privately owned housing were at a seasonally adjusted annual rate of 1,039,000 in March, a 5.7 percent drop from the February rate of 1,102,000 (revised from an original estimate of 1,092,000), and short of the forecast of 1,080,000. The March number was an increase of 2.9 percent from 1,010,000 a year earlier. Single-family permits were issued at a rate of 636,000 units compared to 623,000 units the previous month. This was a gain of 2.1 percent for the month and an annual increase of 4.1 percent. Authorizations for construction of units…(read more)

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