Construction of new homes in the US increased in February, reversing the decline recorded last month, according to Commerce Department data released on Thursday.
Home openings rose 6.8% in February on a monthly basis, to the seasonally adjusted annual rate of 1.769 million.
Economists expected that home openings would increase by 3.8% to 1.70 million.
Home starts are 22.3% higher than the same month last year, when bad weather across the United States hampered construction activity.
In January, housing starts were revised to 1.657 million from the initial estimate of 1.638 million.
Residence permits, which herald housing construction, fell 1.9% month-on-month in February to a seasonally adjusted annual rate of $ 1.859 million.
Estimates showed a decrease of 2.6% to 1.85 million.
Source: Capital
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