Housing Starts Fall on Interest Rate, Financing Concerns

Overall housing starts decreased 14.7% in March to a seasonally adjusted annual rate of 1.32 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Within this overall number, single-family starts decreased 12.4% to a 1.02 million seasonally adjusted annual rate. The multifamily sector decreased 21.7% to an annualized 299,000 pace.