Financial News: U.S. Housing Starts Soar In March But Building

U.S. Housing Starts Soar In March But Building Permits Plunge

04/29/2026 - 08:43:00 (RTTNews)

(RTTNews) - A report released by the Commerce Department on Wednesday showed a sharp increase in new residential construction in the U.S. in the month of March but a steep drop in building permits.

The Commerce Department said housing starts soared by 10.8 percent to an annual rate of 1.502 million in March from a rate of 1.356 million in February. Economists had expected housing starts to come in at an annual rate of 1.400 million.

Meanwhile, the report said building permits plummeted by 10.8 percent to an annual rate of 1.372 million in March from a rate of 1.538 million in February.

Building permits, an indicator of future housing demand, were expected to come in at an annual rate of 1.390 million.

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