New construction increases 2.6-fold from February but remains 17% lower year-on-year.
Homebuilding
The 15-year fixed rate also moved lower, and both benchmark rates stayed below their year-earlier levels.
Former Metsä Wood executive takes helm as outgoing CEO Marko Saarelainen moves to lead Japanese subsidiary.
Sales run at a 3.98 million annual pace as inventory rises and the 2026 forecast is lowered.
Residential permits reached $8.1 billion on gains in multi-unit projects, while total building permits fell 8.4% after a sharp drop in non-residential approvals.