US housing starts fell in March; still stronger than in 2016

Getty Images

Getty Images

Yet sales listings of existing homes dropped 6.4 percent over the past year to 1.75 million properties in February, a figure only slightly higher than in January when listings were at an all-time low.

Construction in February had been supported by warmer-than-usual weather, and so the cool down in March was expected to affect homebuilding. The March rate for units in buildings with five units or more was 374,000, down 4.6% sequentially but 15.4% ahead of a year earlier.

Housing starts fell to a seasonally adjusted annual rate of 1.215 million in March, 6.8% below the revised February rate of 1.303 million, but 9.2% above the March 2016 rate.

The drop in housing starts had a margin of error of 12.5 percentage points, and the increase in permits had a margin of error of 2.8 percentage points, according to the Journal.

New Surface device that runs Windows Cloud — Microsoft rumor
At the same event they announced, the company may introduce us to a new product wearing the name Microsoft Surface CloudBook. Windows RT wasn't targeted at the education market, but it still served as a valuable lesson.

The National Association of Homebuilders (NAHB) reports that this is much in line with Monday's NAHB/ Wells Fargo Housing Market Index (HMI).

During the first three months of this year, construction of buildings with at least five units - mainly apartment complexes - has climbed 14.1 percent. Compared to the first three months of past year, construction is up 13.5% in the South, on strength in both single-family and multifamily units.

Residential starts decreased 6.8% to a 1.22 million annualized rate from a 1.30 million rate in February.

The seasonally adjusted rate of new building permits rose in March to 1.260 million, up 3.6% from the upwardly revised February rate of 1.216 million and up 17% from the March 2016 rate of 1.077 million. Permits were up most significantly in the West, although the strength was entirely in multifamily units. The estimate fell within the range expected by economists surveyed by Bloomberg. We raised our housing starts forecast to 1.26 million units in 2017 and 1.35 million units in 2018.

Recommended News

  • 'IS' In Talks With Al Qaeda On 'Possible Alliance'

    'IS' In Talks With Al Qaeda On 'Possible Alliance'

    Aid shipments also resumed to the Hammam al-Alil camp, southwest of Mosul , the main arrival point for people fleeing the fighting.
    Jennifer Garner Celebrates Birthday with Reese Witherspoon

    Jennifer Garner Celebrates Birthday with Reese Witherspoon

    Ben Affleck and Jennifer Garner filed for divorce without any lawyer which indicates that the decision was orchestrated amicably. They spend so much time working on their relationship - whether it's a friendship or anything - for their kids...

    Bumper profits, new phone and its chief on trial — Samsung's insane day

    Samsung Electronics said Friday, April 7, 2017 its first-quarter profit jumped 48 percent likely due to smartphone component s. The company's de-facto leader, Lee Jae-yong, made his first appearance in court at his trial on corruption charges Friday.
  • Trump seems confused about who is in charge of North Korea

    Trump seems confused about who is in charge of North Korea

    Kim insisted that North Korea, also called the DPRK (Democratic People's Republic of Korea), is ready for war with the US. Like much of Russia's state-controlled media, Kiselyov initially praised Trump in the weeks before and after his election.
    Oklahoma deputy sheriff shot, wounded, suspect being sought

    Oklahoma deputy sheriff shot, wounded, suspect being sought

    The Federal Bureau of Investigation is aiding in the search and Oklahoma City police have lent an air unit to the manhunt. The injured deputy's name was not immediately released, nor was his condition.

    Carmelo Anthony, wife La La separate after 7 years of marriage

    We're certainly going to miss our fave b-ball couple, so we've put together a gallery of all of the best pics of them together. TMZ says the split is amicable and the pair was actually together at Kiyan's basketball game over the weekend.
  • Indiana Pacers vs. Cleveland Cavaliers - 4/20/17 NBA Pick, Odds, and Prediction

    And this is before you have the conversation about how Paul George is calling out teammates or the team spirit every other game. Typically, Love will get the majority of his points early on and Irving and James will carry most of the weight later in games.
    Man Caught Stealing Over 100 Cell Phones at Coachella

    Man Caught Stealing Over 100 Cell Phones at Coachella

    Police officers found over 100 stolen cell phones in Henao's bag, a haul that is hard to not find impressive. Using an elastic band around the wallet or phone will prevent it from smoothly sliding out of your pocket.
    Blue Jackets' Werenski out for playoffs with face fracture

    Blue Jackets' Werenski out for playoffs with face fracture

    On a team with Crosby and Malkin, you could do worse than picking Rust or Guentzel. "It's 3-2 and we've got lots of time". Louis opened the scoring with another goal scored by Joel Edmundson (?!) on a power-play shot from the point.
  • Galaxy S8: More screen and elegance, but a hefty price tag

    Galaxy S8: More screen and elegance, but a hefty price tag

    It did so by eliminating most of the bezel - the front is more than 80% screen - and also getting rid of the physical Home button. Here, all your vital information are collated from your calendar, alarm and other apps so you get to see it all in one place.
    Hillary Clinton Apologized to Obama after Election Loss

    Hillary Clinton Apologized to Obama after Election Loss

    Steve Schale , among the most reliable Democratic strategists in the state, informed Clinton's campaign they were short on votes. In fact, almost everyone in the business of politics thought she would win --including many of Trump's own people.

    'SNL:' Jimmy Fallon, Harry Styles lead flash mob in 'Let's Dance' number

    The series of promos begins with Fallon and Styles playfully jockeying for position while a jazzy score plays in the background. Steve responded: "I love the Stones and I loved it when you went solo".

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.