Housing starts fall in February

Housing starts fell 0.2 percent from January to February, according to the U.S. Census Bureau. Construction decreased to a seasonally adjusted annual rate of 907,000 compared with 909,000 in January.

Single-family housing starts rose 0.3 percent. Building permit applications, which are viewed as a barometer of future construction, rose 7.7 percent in February to a little more than 1 million.

Housing starts are far above the annual rate of 478,000 in April 2009, which was the recession low. However, housing starts were 6.4 percent lower in February than in February 2013. A 1.5 million annual rate still is needed to be considered healthy.

Date : 3/19/2014