Housing Starts in U.S. Surge on Multifamily Unit Demand

 

 

 

 

By Alex Kowalski

Artice Reprint

New-home construction in the U.S. climbed in March to the highest level in almost five years, propelled by a surge in multifamily building that will support economic growth.

Starts (NHSPSTOT) climbed 7 percent to a 1.04 million annual rate, the most since June 2008, from a revised 968,000 pace in February that was larger than previously reported, according to Commerce Department figures issued today in Washington. Other reports showed consumer prices unexpectedly dropped last month and factory production cooled.

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