The latest reading also exceeded the prior 1.177 million, underscoring stronger-than-expected homebuilding activity despite commentary on Federal Reserve policy.
US housing starts rose to 1.427 million in the latest reading, beating the 1.31 million forecast and surpassing the prior 1.177 million. The data points to stronger-than-expected homebuilding activity, a sign the housing sector is showing resilience even as commentary around the Federal Reserve's tight policy stance continues to shape market debate.