Residential construction recovered in March after a serious
decline the prior month. The U.S. Census Bureau and Department of Housing and
Urban Development said all three measures rose, with housing starts hitting a
15 year high
. Some regional increases topped 100 percent. Permits for residential construction were issued at a
seasonally adjusted annual rate of 1.766 million in March, a 2.7 percent
increase from February’s rate of 1.720 million. The latter is an upward
revision from the 1.682 million permits originally reported for February, erasing
some of the near 11 percent loss originally reported. The permitting rate for
the month was 30.2 percent higher than in March 2020.

 

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