Steel Markets
April 16, 2021
Housing Starts Spike Significantly in March
Written by Sandy Williams
Housing construction rebounded in March as demand for newly built homes was spurred by tight existing-home inventory and low mortgages interest rates.
Construction starts for privately-owned houses soared 19.4% from February to March, and 37% from a year ago, to a seasonally adjusted annual rate of 1.74 million units Starts for single-family homes leapt 15.3% from the previous month, while apartment and condo buildings with five units or more rocketed 30%. Compared to March 2020, single-family starts were up nearly 41%.
