Increasing for the first time in six months, nationwide housing starts shot up 9.8% in February, with both single-family and multi-unit projects posting gains. Building permits did even better—up 13.8%, the largest monthly gain in two years. Home builders are clearly feeling more optimistic. The homebuilder sentiment index headed up for the third straight month, indicating the housing market is starting to find its footing in the present mortgage rate environment.
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