U.S. Housing Market Suffers as Interest Rates Rise: March Figures Show a Decline in Starts and Permits

April 18 (Reuters) – U.S. housing starts and building permits fell in March in a housing market hit by rising interest rates, data released by the department showed on Tuesday. Trade.

Seasonally-adjusted housing starts fell 0.8% year on year last month to 1.420 million units at an annualized rate, compared to 1.432 million in February (revised from 1.450 million) and a consensus of ‘1,400 million economists.

The number of building permits, for its part, plunged 8.8%, to 1.413 million units, against 1.550 million in February and a consensus of 1.450 million.

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(Written by Claude Chendjou, edited by Bertrand Boucey)