March Housing Starts Unexpectedly Rise 8.3 Percent
Housing starts rebounded strongly in March from a big drop in February, the Commerce Department reported.
The reports show that groundbreaking for new homes climbed 8.3 percent—the largest rise since September—to a seasonally adjusted 1.780 million unit annual rate from an upwardly revised 1.644 million clip in February. Permits dipped to a seasonally adjusted annual 1.685 million unit pace from an upwardly revised 1.811 million rate the month before.