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U.S. Housing Starts Rebound In February

U.S. housing starts brushed off a sluggish January and reached a seasonally adjusted rate of 1.45 million in February, up 9.8% over January. Single-family starts were 830,000, a percent above January, while multi-family (five units or more) were at 608,000, up a whopping 24% over January.

The uptick in February broke a four-consecutive monthly decline for the combined starts.

Building permits were at a rate of 1.524 million in February, nearly 14% above January. Single-family permits were 777,000, up 7.6%, and multi-family was 700,000, up 24.3%.

Housing completions were at a rate of 1.557 million in February, 12.2% above January, with single-family completions at 1.037 million, a percent above January, and multi-family completions at 509,000, a jump of 44.6% over January.

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