U.S. homebuilding increased more than expected in March amid a rebound in the construction of multi-family housing units, but weakness in the single-family segment suggested the housing market was slowing.

Housing starts rose 1.9 percent to a seasonally adjusted annual rate of 1.319 million units, the Commerce Department said on Tuesday.

Data for February was revised up to show groundbreaking declining to a 1.295 million-unit pace instead of the previously reported 1.236 million units.
Economists polled by Reuters had forecast housing starts rising to a pace of 1.262 million units last month.

Permits for future home building rose 2.5 percent to a rate of 1.354 million units in March.

U.S. financial markets were little moved by the data.

Despite the rebound in homebuilding last month, activity appears to be slowing.

Single-family homebuilding, which accounts for the largest share of the housing market, fell 3.7 percent to a rate of 867,000 units in March… Read more… (on Reuters.com) >>>

May be interested:
New York’s luxury real estate market is experiencing a correction…

Jersey City becomes alternative to New York, but without the ‘sticker shock’ in prices…

Los Angeles ranks as most attractive commercial real estate market…