Housing starts rose nearly 11% from February to March, as builders ramped up activity despite ongoing affordability challenges. Gains were seen in both single-family and multi-family construction, likely supported by better weather.
At the same time, building permits fell by a similar margin, an early sign that future construction activity may slow.
What’s the bottom line?
While the jump in housing starts came in well above forecasts, the drop in permits suggests builders are still proceeding carefully amid ongoing economic and geopolitical uncertainty.
