Construction of new homes in the United States rebounded in March from a steep slump in February, with gains in both starts and permits, the Commerce Department reported Tuesday.
Housing starts rose 7.2 percent to an annual rate of 549,000 units, the department said. It also revised the February pace sharply higher, to 512,000.
Single-family home construction, which represents about three quarters of the market, rebounded a stronger 7.7 percent from the prior month.
Building permits leaped 11.2 percent to an annual rate of 594,000.
"Residential construction regained some lost ground in March, but construction starts remain very low from a historical perspective," said Alexander Miron at Moody's Analytics.
The data can be volatile on a monthly basis in part due to weather conditions, but the trend shows no sign of recovery in the sick housing market more than three years after prices collapsed.
Government officials have cited the depressed housing sector, a key pillar of the economy, as holding back the country's recovery from recession.
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