US housing starts for March 2021:
- 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.