A decline in multifamily housing construction offset a rise in single-family homes in March, leading to an overall slowdown in housing construction., the seasonally adjusted annual rate of housing starts — when construction begins on a project — fell 0.8% from February and 17.2% from 12 months prior. While single-family housing starts rose 2.7% from February, multifamily housing starts fell 5.9%.
New single-family building permits rose 4.1% from February, but a drop in multifamily permits led to an overall 8.8% decline in permits. The news comes as some states are trying to remove policy roadblocks against denser multifamily housing, which advocates say will lower housing costs by raising supply. The issue often cuts across traditional party lines — in late March, Republican Florida Gov.
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