Reading:The number of businesses started by single-person households in March increased by 22% compared to the previous year.Rapid decline in multifamily housing
The number of businesses started by single-person households in March increased by 22% compared to the previous year.Rapid decline in multifamily housing
Although the total number of housing starts in March was significantly lower than expected, the numbers for January and February were revised upward.
The third chart shows the month-on-month change in total construction starts for 2023 (blue) and 2024 (red).
Total construction starts in March decreased by 4.3% compared to March 2023.
After four consecutive months of year-over-year increases in starts, March starts were below year-over-year (YoY). The decrease compared to the same period last year was due to a significant decrease in the number of housing starts.