March US housing starts fall most since 1984, in line with pandemic expectations
from For Construction Pros
The 22.3% drop in housing starts reported for March was the biggest plunge since 1984, but it was largely in line with expectations given stay-at-home orders to battle COVID-19's spread. Wells Fargo Economics Group reports that starts had hit their highest pace of the cycle during the prior three months, averaging a 1.595-million-unit pace. Both single-family and multifamily starts fell sharply in March, tumbling 17.5% and 31.7%, respectively.
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