New-Home Construction Improves Despite High Inflation, Rising Mortgage Rates, and the Shortage of Skilled Labor and Materials
The numbers: U.S. home builders started construction on homes at a seasonally-adjusted annual rate of roughly 1.79 million in March, representing a 0.3% from the upwardly-revised figures for the previous month, the U.S. Census Bureau reported Tuesday. Compared with March 2021, housing starts were up nearly 4%. Permitting for new homes occurred at a seasonally-adjusted …