US housing starts and building permits for March:

  • Prior was 897K (revised to 908K)
  • Starts up 2.0% m/m vs +15.9% expected
  • Building permits 1039K vs 1081K expected
  • Permits down 5.7% vs -1.9% exp m/m

The thinking in February was the poor weather stunted the home construction market but another month of weak data raises new concerns.

Housing starts