New construction of U.S. housing units revealed an upward trend in place since the beginning of the year. Starts rose 1.1% in February and 1.6% in March and are now at their highest level since November 2008. “The bottom line is that there is an upward trend and construction will be moving higher provided that new-home sales improve as well,” said Michelle Meyer, economist at Barclays Capital. Starts of single-family homes are up 47.1%, while starts of apartments and condominium units have plunged 31.8%.
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