US housing starts top estimates in February
Construction starts on single-family houses rose to an annualized pace of 882,000 units in February, reaching the highest level seen since November 2007, while housing starts for multi-family units climbed to an annualized pace of 356,000 units in February. Housing starts rose 26.1% in the West while starts dipped 51% in the Northeast.
However, building permits, an indicator of future construction, fell 3.1% to an annualized pace of 1.17 million units in February from around 1.2 million units in the previous month.
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