US housing starts fall in March
The data from US Census Bureau and the Department of Housing and Urban Development reveals that privately owned housing starts stood at 1,215,000 in March with a decrease of 6.8% month-on-month from a revised 1,303,000 registered in February. Market expectations were calling for housing starts to stand at 1,262,000 in March, down by 2% from the previous month.
However, housing starts were up by 9.2% in March year-on-year
Meanwhile, building permits in March was up by 3.6% month-on-month to reach 1,260,000 and stood above the expectations of an increase of 3.1%, the data showed. Building permits also increased by 17% year-on-year.
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