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Building Permits in line with market forecasts

Tuesday, Apr 18 2017
Building Permits in line with market forecasts

New-home construction in the U.S. cooled in March to a four-month low as starts of single-family properties settled back from the strongest pace in almost a decade, Commerce Department data showed Tuesday.

Residential starts decreased 6.8 percent to a 1.22 million annualized rate from a 1.30 in February. Forecast was for 1.25 million rate; February’s figure was revised from 1.29 million. Permits, a proxy for future construction, climbed 3.6 percent to a 1.26 million annualized rate in March.

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