March Housing starts rose more than expected

WASHINGTON (Reuters) – Housing starts and permits for future home construction rose more than expected in March, snapping back from the prior month’s winter weather depressed levels, government data showed on Tuesday.

The Commerce Department said housing starts rose 7.2 percent to a seasonally adjusted annual rate of 549,000 units. February’s starts were revised up to a 512,000-unit pace from the previously reported rate of 479,000 units.