US home building surged in February | CNN Business

Housing starts rose by 9.8% in February from January but that’s still down 18.4% from a year ago.

Housing starts had big drops in May and July last year, when spiking mortgage rates pushed many prospective home buyers to the sidelines.

Singlefamily housing starts in February were up 1.1% from the revised January figure at a seasonally adjusted annual rate of 830,000.