CONSTRUCTION ESTIMATING NEWS (update by every month)
US home construction slows
Construction of new homes in the US fell unexpectedly in March to the lowest in five months, but approvals for building permits – a proxy for future construction – increased to their highest level in more than three years.
Housing starts fell 5.8 per cent last month to an annual rate of 654,000 units, the lowest level since October 2011, from the downwardly revised February estimate of 694,000, according to the commerce department. Analysts had expected 700,000 groundbreakings in March. New home construction was up 10.3 per cent year on year.
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