Housing starts lowest level since 2020 pandemic
- Prior month for housing starts 1.447M revised from 1.452M
- Housing starts 1.283M versus 1.440M estimate. That’s the lowest level since June 2020 during the pandemic
- Building permits 1.543M vs 1.443M estimate. Prior month building permits 1.442M. The high level for the year came in at 1.55M in February
Housing starts are much weaker than expected but building permits indicate strength.