Good News: US Home Builders’ March Numbers Highest Since June 2008
The Associated Press reports that the number of homes that started construction in March finally broke the 1 million mark–the first time that’s happened since June 2008. The happy charge was led by a surge in apartment building, which we could certainly verify in Philadelphia.
However, the apartment-building market is notoriously volatile, and single-family homes make up the majority of the home building market, so while this is good news, it’s a fragile peace for now.
• US builders start 1 million homes in March, most in nearly 5 years, led by apartment surge [WashPo]