U.S. housing starts increase more than expected in March
Reuters2021-04-16
WASHINGTON, April 16 (Reuters) - U.S. homebuilding rebounded more than expected in March, but soaring lumber prices amid supply constraints could limit builders’ capacity to boost production and ease a shortage of homes that is threatening to slow housing market momentum.
Housing starts surged 19.4% to a seasonally adjusted annual rate of 1.739 million units last month, the Commerce Department said on Friday. Economists polled by Reuters had forecast starts would rise to a rate of 1.613 million units in March. (Reporting by Lucia Mutikani; Editing by Toby Chopra)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
