Housing Starts Perk Up in March

housing starts
housing starts

The housing market has finally begun to emerge from the winter doldrums, but still trails behind year-ago levels, when the home buyer tax credit was still in effect. Housing starts and permits for future home construction issued in March were higher than expected, according to data released by the Commerce Department report on Tuesday.

Housing starts in March were recorded at a seasonally adjusted rate of 549,000, or 7.2 percent above a mediocre 512,000 in February. But even with a seasonal boost from spring home buying, March figures are still 13.4 percent below the year-ago rate of 634,000.