WASHINGTON — U.S. housing starts fell by 1.5 percent in February to a seasonally adjusted annual rate of 1.599 million units, according to the U.S. Commerce Department. The decrease was less than forecast by economists, who projected a rate of 1.5 million units. Single-family housing starts swelled by 6.7 percent to a rate of 1.072 million units. On a year-over-year basis, housing starts soared by 39.2 percent.
Building permits for February plunged by 5.5 percent to a rate of 1.464 million units. Building permits for single-family housing increased by 1.7 percent to a rate of 1.004 million units.
