Housing Starts, Permits Stage Spring Recovery

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Posted To: MND NewsWire

Both housing permits and housing starts recovered in March from very disappointing performances in February. The New Residential Construction Report , jointly issued by the U.S. Census Bureau and the Department of Housing and Urban Development, has both indicators up for the month, and both beat analysts’ expectations. Single family construction however weakened from February rates. Permits for privately-owned residential construction were issued at the seasonally adjusted annual rate of 1,354,000, a 2.5 percent increase from the February rate of 1,321,000. The February number is an upward revision of the 1,298,000 originally reported. Permitting in March was up 7.5 percent compared to the March 2017 rate of 1,260,000 units. Analysts polled by Econoday had made a consensus forecast of 1,315…(read more)

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