Housing starts surge 7 percent in March

Housing starts increased 7 percent in March, according to Tuesday's New Residential Construction Report. Multi-unit housing starts had a notable monthly increase of 26.9 percent.

By SoldAtTheTop,?Guest blogger / April 16, 2013

March 2013 saw a 7 percent monthly increase to total housing starts while single family housing starts declined by a notable 4.8 percent since February 2013.

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Today?s?New Residential Construction Report?showed mixed results in March with a notable 26.9% monthly increase in multi-unit housing starts greatly influencing the 7.0% monthly increase to total housing starts while single family housing starts declined by a notable 4.8% since February with total housing permits?declining?significantly as well.

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Writer, The PaperEconomy Blog

'SoldAtTheTop' is not a pessimist by nature but a true skeptic and realist who prefers solid and sustained evidence of fundamental economic recovery to 'Goldilocks,' 'Green Shoots,' 'Mustard Seeds,' and wholesale speculation.

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Single family housing permits, the most leading of indicators, declined 0.5% from February to 595K single family units (SAAR), but increased 27.7% above the level seen in March 2012 but still remained an astonishing 66.91% below the peak in September 2005.?

Single family housing starts declined 4.8% from February to 619K units (SAAR), but rose 28.7% above the level seen in March 2012 but still remained 66.04% below the peak set in early 2006.?

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Source: http://rss.csmonitor.com/~r/feeds/csm/~3/sfjjFEjcCb0/Housing-starts-surge-7-percent-in-March

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