Home construction up

WASHINGTON (AP) — U.S. housing construction rebounded strongly in March, as home builders recovered from an unusually frigid February. The Commerce Department reported Friday that builders began construction on new homes and apartments at a seasonally adjusted annual rate of 1.74 million units in March, a 19.4% increase over February when housing construction had fallen by 11.3%. The February setback had been attributed to unusually severe winter storms which had gripped much of the country. Friday’s report showed that application for building permits, a good sign of future activity, increased by 2.7% to a seasonally adjusted annual rate of 1.77 million units.