Housing starts fall in March

Housing starts fell 6.8 percent from February to March, according to the U.S. Census Bureau. Construction decreased to a seasonally adjusted annual rate of 1.215 million compared with a revised estimate of 1.303 million in February.

Single-family housing starts fell 6.2 percent. Building permit applications, which are viewed as a barometer of future construction, increased 3.6 percent in March to 1.26 million.

Housing starts are far above the annual rate of 478,000 in April 2009, which was the recession low, and they were 9.2 percent higher in March than in March 2016. A 1.5 million annual rate still is needed to be considered healthy.

Date : 4/19/2017