Housing starts climb, but home builders are growing more cautious with new projects


U.S. home builders started construction on homes at a seasonally-adjusted annual rate of roughly 1.77 million in February, representing a 6.8% increase from the revised figures for the previous month, the U.S. Census Bureau reported Thursday. Compared with February 2021, housing starts were up 22%. Meanwhile, permitting for new homes occurred at a seasonally-adjusted annual rate of roughly 1.86 million, down 1.9% from January. Nevertheless, permitting activity was up 7.7% from a year ago. Economists polled by MarketWatch had expected housing starts to occur at a median pace of 1.7 million and building permits to come in at a median pace of 1.85 million.

This article was originally published by Marketwatch.com. Read the original article here.

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