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US housing starts up, building permits down in March

by ChemOrbis Editorial Team - content@chemorbis.com
  • 16/04/2015 (16:41)
US housing starts increased, but building permits declined in March, according to data released by the US Commerce Department. New housing starts rose 2% to an annual pace of 926,000 units in March. However, March’s figures fell below economists’ estimates, which called for an increase to 1.04 million units in a survey by Reuters.

The data showed that housing starts for single-family houses rose 4.4% while starts for multi-family houses fell 2.5% in March. Across the country, housing starts dipped 19.3% in the West and fell 3.5% in the South.

Meanwhile, building permits declined 5.7% to 1.04 million units in March, posting the biggest decline since May 2014. Single family permits rose 2.1% while permits for multi-family houses slumped 15.9% in the last month.
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