Market news
16.04.2021, 12:38

U.S. housing starts rise much more than expected in March

The Commerce Department reported on Friday the housing starts surged by 19.4 percent m-o-m in March to a seasonally adjusted annual pace of 1.739 million (the highest level since June 2006), while building permits rose by 2.7 percent m-o-m to a seasonally adjusted annual rate of 1.766.

Economists had forecast housing starts increasing to a pace of 1.613 million units last month and building permits rising to a pace of 1.750 million units.

Data for February was revised to show homebuilding growing to a pace of 1.457 million units, instead of increasing at a rate of 1.421 million units as previously reported.

According to the report, permits for single-family homes, the largest segment of the market, rose 4.6 percent m-o-m to a rate of 1.199 million units in March, while approvals for the multi-family homes segment decreased 1.2 percent m-o-m to a 567,000 unit-rate.

In the meantime, groundbreaking on single-family homes climbed 15.3 percent m-o-m to a rate of 1.238 million units in March, while housing starts for the multi-family surged 30.0 percent m-o-m at a 477,000 -unit pace.

© 2000-2021. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Feedback
Live Chat E-mail
Up
Choose your language / location