Housing starts fall 7% but permits pick up the slack in

• April 18, 2017
• realestate
• Business & Markets, Real Estate Finance

Builders broke ground on fewer homes in March, but ramped up applications for permits, as the housing recovery continued to grind forward in fits and starts. Housing starts fell 6.8% to a seasonally adjusted annual rate of 1.22 million, the Commerce Department said Tuesday. That was 9.2% higher than during the same period a year ago, but it missed the forecast of 1.24 million.