U.S. Housing Starts Rose 1.6% In March
U.S. housing starts were reported at 626.000 vs. revised 616.00 March reading (revised from 575.000???). The consensus was at 610.000. Building permits in the same period rose 7.5% to 685.000.
You can look the data from two standpoints: 1. The housing industry is recovering; or 2. They are adding additional supply to already oversupplied market.
Chart 1. U.S. Housing Starts
Source: U.S. Census Bureau
Chart 2. U.S. Building Permits
Source: U.S. Census Bureau
