Recovery Continues in New US Residential Construction

Housing starts have continued to rebound after the steep declines of the Great Recession. 

In March, housing starts in the U.S. stood at a seasonally adjusted annual rate of 1,036,000, the most since June 2008 and a 46.7 percent rise above the March 2012 rate, according to the U.S. Department of Commerce.

Building permits, a sign of future construction, dipped slightly to a seasonally adjusted annual rate of 902,000, 3.9 percent below the revised February rate of 939,000.