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Biggest Construction Boom Since 2006; Best 2 Weeks For Rates in a Year

Biggest Construction Boom Since 2006; Best 2 Weeks For Rates in a Year

Residential construction recovered in March after a serious decline the prior month. The U.S. Census Bureau and Department of Housing and Urban Development said all three measures rose, with housing starts hitting a 15 year high . Some regional increases topped 100 percent. Permits for residential construction were issued at a seasonally adjusted annual rate of 1.766 million in March, a 2.7 percent increase from February's rate of 1.720 million. The latter is an upward revision from the 1.682 million permits originally reported for February, erasing some of the near 11 percent loss originally reported. The permitting rate for the month was 30.2 percent higher than in March 2020. There was some disagreement among analysts polled by Econoday and Trading Economics in forecasting the month's results
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