Our Story Happens Here
Play Live Radio
Next Up:
Available On Air Stations
NPR News

Housing Starts Surged In March; Pace Is Fastest In 5 Years

A home under construction in Provo, Utah, earlier this year.
A home under construction in Provo, Utah, earlier this year.

There was a 7 percent surge in housing starts last month, the Census Bureau and Department of Housing and Urban Development report.

As The Associated Press notes, the pace of construction — 1.04 million starts, at an annual rate — is the fastest in nearly five years and is another sign that the housing sector continues to recover from its 2007-08 crash.

Also Tuesday morning, the Bureau of Labor Statistics said consumer prices fell 0.2 percent in March. The driving factor was a 4.4 percent plunge in gas prices.

Copyright 2020 NPR. To see more, visit https://www.npr.org.

Related Content
  • With a large labor force willing to work for low wages, construction may appear to be a lucrative field for contractors in Texas. But prices have been driven so low that many say they can't compete if they play by the rules. Instead, some misclassify their workers or turn a blind eye to undocumented laborers.
  • In 2006, two Manhattan housing projects were at the center of a real estate fiasco that would come to epitomize the housing crisis. Charles Bagli's Other People's Money explains how the government of Singapore was among those who paid for the mistakes of New York's real estate giants.
  • Higher taxes and slow hiring cut into consumer purchasing last month. Analysts say is behind a disappointing March retail sales report. Host David Greene has more.