There is good news for housing construction. Housing starts passed the one million mark in March by adding 1.036 million homes, a 7 percent increase from the February level of 968,000. The increase can be attributed to a 31 percent rise in apartment building which added 417,000 units, the highest since January of 2006. Housing permits were down only 3.9 percent from February’s high that had not been seen since 2008. Regionally, starts increased in all areas except the Northeast. The South had the best monthly increase of 10.9 percent, beating both the Midwest at 9.6 percent and the West at 2.7 percent.
Read the full article here: Housing Passes One Million Mark