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U.S. home construction rebounds in March after frigid February

The Associated Press
U.S. home construction rebounds in March after frigid February

WASHINGTON — U.S. housing construction rebounded strongly in March with homebuilders recovering from an unusually frigid February.

Builders began construction on new homes and apartments at a seasonally adjusted annual rate of 1.74 million units in March, the Commerce Department reported, a 19.4 per cent increase over February when housing construction fell by 11.3 per cent.

Severe storms raked several regions of the country in February, setting construction back.

The report showed that applications for building permits, a good sign of future activity, increased by 2.7 per cent to a seasonally adjusted annual rate of 1.77 million units.

 

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