Homebuilding shows signs of stabilization
Housing construction activity strengthened in March, with a notable rebound in both single-family and multifamily starts, signaling improved builder activity despite ongoing headwinds from financing costs and affordability constraints. According to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, overall housing starts increased 10.8% in March to a seasonally adjusted annual rate of 1.5 million units.
While the monthly gain points to renewed momentum, year-to-date trends remain mixed, particularly in the single-family sector, while permit activity suggests some caution moving forward. Within the total, single-family starts increased 9.7% to a seasonally adjusted annual rate of 1.03 million units and are up 8.9% compared to March 2025.
Graph credit: NAHB
