US housing starts for March 2021:

US housing starts
  • Prior was 1421K (revised to 1457K)
  • Sales up 19.4% m/m vs +13.5% expected
  • Building permits 1766K vs 1750K expected
  • Single family starts +15.3%, multi-family +30.8%
  • Single family permits +4.6%, multi-family -1.2%

Sales were depressed in February by cold weather so a big rebound was expected but it was even stronger than anticipated as the housing market continues to heat up.