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    Analysis

    March 17, 2016

    Single Family Housing Starts Rebound in February

    Written by Sandy Williams

    Housing starts jumped 5.2 percent in February led by an eight year high in single-family construction. After a slow start in January, the Commerce Department reports housing starts were at a seasonally adjusted annual rate of 1,178,000, up 5.2 percent from January’s revised rate of 1.12 million and 30.9 percent from February 2015.

    Single-family construction surged 7.2 percent to an annualized rate of 822,000. Multi-family housing of 5 units or more increased 2.4 percent for an annualized rate of 341,000. Apartment housing has been a favored choice for young adults saddled student debt and little savings. The surge in single family housing potentially signals stronger confidence in the economy.

    Sandy Williams

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