New home building increases in the US as demand outstrips supply

New home building in the United States increased by 5.2% to a seasonally adjusted annual rate of 1.178 million units in February, according to newly released data. The figures from the US Department of Housing and Urban Development and the Commerce Department show that single family production increased 7.2% to 822,000 units, its highest level since November 2007while multifamily starts remained virtually unchanged, inching up 0.8% to 356,000 units. ‘This month’s report is consistent with po...