Housing Starts in February were at an annual rate of 1,521,000 versus 1,430,000 expected, up 10.7% from January and 5.9% above the February 2023 rate of 1,436,000. Single‐family housing starts in February were at a rate of 1,129,000, up 11.6% from January. The February rate for units in buildings with five units or more was 377,000.
The takeaway... With builders reducing prices and offering other incentives to increase sales along with smaller homes being built to manage higher material costs, this could help alleviate some of the inventory problems.
