Total housing starts fell 0.3% in March to a seasonally adjusted annual rate of 1.14 million units from a downwardly revised reading in February, according to a report from the U.S. Housing and Urban Development and Commerce Department that was delayed due to the partial government shutdown.
The March reading of 1.14 million is the number of housing units builders would begin construction on if they kept this pace for the next 12 months. Within this overall number, single-family starts fell 0.4% to 785,000 units. The multifamily sector, which includes apartment buildings and condos, remained flat at 354,000.