New US Home Construction Rebounds After Storm-Ridden Month
- Housing starts rose 11.2% in February, more than forecast
- Permits, an indicator of future construction, declined
New residential construction increased 11.2% in February.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
US housing starts rose in February by more than forecast after a weather-related plunge, led by a pickup in single-family home construction underpinned by builder incentives.
New residential construction increased 11.2% to an annualized rate of 1.5 million in February, according to government data released Tuesday. The pace exceeded all forecasts in a Bloomberg survey of economists.