U.S. housing starts surge to the

Although concerns about housing affordability persist, residential builders have still increased construction activity. Data released by the U.S. Census Bureau on Wednesday shows that new housing starts in March rose by 10.8% to an annualized rate of 1.5 million units, marking the highest level since December 2024 and exceeding expectations. Single-family housing starts in March grew by 9.7% to an annualized rate of 1.03 million units, while multi-family housing starts also increased. Wednesday's report indicates that as builders continue to offer sales incentives to attract potential buyers, residential construction is beginning to stabilize. However, escalating conflict involving Iran has heightened economic uncertainty, driving up both material costs and mortgage rates.