Housing starts rise in March

Housing starts rose 2.8 percent from February to March, according to the U.S. Census Bureau. Construction increased to a seasonally adjusted annual rate of 946,000 compared with 920,000 in February.

Single-family housing starts rose 6 percent. Building permit applications, which are viewed as a barometer of future construction, fell 2.4 percent in March to 990,000.

Housing starts are far above the annual rate of 478,000 in April 2009, which was the recession low. However, housing starts were 5.9 percent lower in March than in March 2013. A 1.5 million annual rate still is needed to be considered healthy.

Date : 4/17/2014