By Ed Frankl
U.S. housing starts jumped in February by more than expected, reflecting that sentiment is improving among housebuilders. Here are the main takeaways from the Commerce Department's report released Tuesday.
--Housing starts, a measure of U.S. home building, rose 10.7% to a seasonally adjusted rate of 1.52 million.
--Economists polled by The Wall Street Journal had expected starts to increase less sharply to 1.43 million.
--Starts were 5.9% higher than the same month last year.
--December's housing starts were revised upward to 1.37 million from 1.33 million.
--Monthly housing starts data are volatile. February data came with a margin of error of 14.2%.
--Residential permits, which can hint at future home construction, also rose 1.9% on month to 1.52 million. Economists had expected permits to tick up to 1.49 million.
--The data comes after improved sentiment among constructors as demand improved and mortgage rates eased, according to data from the National Association of Home Builders published on Monday.
Write to Ed Frankl at edward.frankl@wsj.com
(END) Dow Jones Newswires
03-19-24 0854ET
