Housing starts jump more than expected in March

• March Housing Starts: +19.4% M/M to 1.739M vs. 1.620M expected and 1.457M prior (revised from 1.421M).
• Rises 37.0% Y/Y.
• Single-family housing starts in March were at a rate of 1.238M, up 15.3% from the revised February figure of 1.074M.
• Building permits: +2.7% to 1.766M vs. 1.750M expected and 1.720M prior (revised from 1.682M)
• Rises 30.2% from March 2020.
• Single-family authorizations in March clocked in at a rate of 1.199M, up 4.6% from February.
• Privately-owned housing completions in March came in at a seasonally adjusted annual rate of 1.580M, up 16.6% from the revised February estimate of 1.355M and 23.4% higher than the March 2020 rate of 1.280M.