Rise in US housing starts continues in March

By Ovunc Kutlu

ANKARA (AA) – US housing starts continued to climb in March, according to latest official data released on Tuesday.

The figure, which measures the change in the number of new residential buildings beginning construction, was over 1.79 million, according to a report by the Census Bureau and the Department of Housing and Urban Development.

This marked a 0.3% increase from the revised February figure of over 1.78 million.

Housing starts, the leading indicator of the housing industry, were up 3.9% on an annual basis.

Building permits, a key indicator for demand in the market, rose 0.4% to more than 1.87 million.

The February figure for building permits was revised to approximately 1.86 million.

Annually, building permits saw a 6.7% gain from March 2021.