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U.S. March Housing Starts Jump as Permits Slide

Falling permits plus weaker builder confidence point to a short-lived bump.

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A "sold" sign is seen outside of a recently purchased home in Washington, U.S., July 7, 2022. REUTERS/Sarah Silbiger/File Photo
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Overview

  • The Census Bureau, which released February and March data Wednesday, said total housing starts rose 10.8% to a 1.502 million seasonally adjusted annual rate, the standard monthly pace measure.
  • Single-family starts climbed 9.7% to 1.032 million, the highest level since February 2025.
  • Permits, a gauge of future building, fell 10.8% to 1.372 million, including a 3.8% drop in single-family approvals to 895,000.
  • Multifamily activity diverged, with starts up 9.6% to 446,000 as permits tumbled 23.5% to 427,000.
  • Rising mortgage rates and higher fuel-linked material costs weighed on builders in April, as the NAHB survey showed weaker confidence and Freddie Mac reported rates averaging 6.23% last week after a 6.46% early-April peak.