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U.S. housing starts surpass 1 mln in March

Posted on 17 April 2013

U.S. builders broke ground in March on homes at a seasonally adjusted rate of 1.04 million, the fastest since June 2008. The gain was driven by a surge in apartment construction and showed continued strength in the housing market at the start of the spring buying season.
The Commerce Department says that builders increased their construction pace by 7 percent in March from February. Apartment construction jumped 31.1 percent to a seasonally adjusted rate of 392,000 — the fastest pace since January 2006. Single-family home construction, which represents nearly two-thirds of the market, fell 4.8 percent to a seasonally adjusted 619,000. That was down from February’s pace of 650,000, which was the fastest pace since May 2008……………………………………Full Article: Source


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