March Housing Starts Surge

April 16, 2021

March Housing Starts jumped nearly 20% from February to an annual rate of 1,739,000 versus the 1,621,000 expected. Single-family starts, which make up the bulk of the market, saw a jump of 15% to 1,238,000 units. Building Permits, a sign of future construction, saw a near 5% gain to an annual rate of 1,766,000. Multi-family units rose 30%. However, the market is still being plagued by low inventories and with the labor market continuing to improve, there could be more buyers on the scene in the months ahead. Remember, jobs buy houses.