U.S. housing starts rise, permits at 4½-year high
WASHINGTON – U.S. builders started more houses and apartments in February, while requesting permits for future construction at the fastest pace in 4½ years. The increases point to a housing recovery that is gaining strength.
The Commerce Department said Tuesday that builders broke ground on homes last month at a seasonally adjusted annual rate of 917,000. That’s up from 910,000 in January. And it’s the second-fastest pace since June 2008, behind December’s pace of 982,000.
Single-family home construction increased to an annual rate of 618,000, the most in 4½ years. Apartment construction also ticked up, to 285,000.
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