US Residential Starts Climb to 16-Year High in March

Source: US Census Bureau

Housing starts in the United States climbed for the second straight month in March, marking the highest level since 2006. XHB is up 2.78%, while ITB is up 2.77%.

• Residential starts for the month stood at 1.793 million, up 0.3% from February’s 1.788 million and 3.9% higher than March 2021’s 1.725 million.
• The latest level is the highest level in 16 years since March 2006.
• The highest figure was recorded in the south with 834,000 units, followed by the west with 434,000 units, the northeast with 293,000 units, and the midwest with 232,000 units.
• Building permits for March were registered at 1.873 million, up 0.4% from 1.865 million in February and 6.7% higher than 1.755 million in March 2021.
• Completions for the month were 1.303 million, reflecting a 4.5% decline from 1.365 million in February and a 13.0% increase from 1.497 million last year.