Weather won’t deter the number of permits issued.
Real estate reporter for the Wall Street Journal Kris Hudson argues that the 17 percent decline in housing starts should not cause a panic.
“The Commerce Department’s data for February home starts, released Tuesday, is an anomaly born of harsh weather in many parts of the U.S. last month,” Hudson writes. He contends that the number of residential building permits issued provides a “better view of the market’s trajectory.”
As overall construction starts were down 3.3 percent in February year-overy-year, residential building permits were up 2 percent.