The number of housing starts in the United States in February increased by 10.7% compared to the previous month and amounted to 1.521 million at an annualized rate, according to a press release from the country’s Commerce Department. This is the most significant increase in the last nine months.
According to the revised data, in January the number of new buildings was 1.374 million (down 12.3%), not 1.331 million (down 14.8%), as previously reported.
Analysts on average had forecast a 7.1% decline from the previously announced January level, according to Trading Economics.
Construction of single-family homes jumped 11.6% last month to 1.129 million. The number of new apartment buildings (including apartments and condominiums), a more volatile segment of the market, increased by 8.6% to 377 thousand.
Meanwhile, the number of building permits for new homes in February increased by 1.9% to 1.518 million in annualized terms. This is the highest figure since August last year. Analysts had expected a rise of only 0.4%.
At the same time, the number of permits for the construction of single-family houses increased by 1%, and apartment buildings – by 4.1%.
