Market Updates
Housing Construction Activities Eased in March
Brian Turner
18 Apr, 2023
New York City
Housing starts in March declined 0.8% from the previous month to a seasonally adjusted annual rate of 1.42 million, following the downwardly revised 7.3% increase in February.
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly reported housing permits, starts and completions Tuesday.
Single‐family housing starts in March increased 2.7% to 861,000 from the revised February starts of 838,000 units.
Building permits in March declined 8.8% to 1.41 million units from the revised rate of 1.55 million in February and dropped 24.8% from a year ago rate of 1.897 million rate.
Building completion rate was a seasonally adjusted rate of 1.542 million, a decline of 0.8% from the February rate of 1.552 million and 12.9% above the rate of 1.366 million a year ago.
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