Housing starts, building permits both take a jump in March
WASHINGTON — Builders broke ground on more new homes last month, giving the weak U.S. housing market a slight boost at the start of the spring buying season. Home construction rose 7.2% in March from February to a seasonally adjusted 549,000 units, the Commerce Department said Tuesday. Building permits, an indicator of future construction, rose 11.2% after hitting a five-decade low in February.
Still, the building pace is far below the 1.2 million units a year economists consider healthy. And March’s improvement came after construction fell in February to its second-lowest level on records dating back more than a half-century….read more