The US allotted 1.76 million building permits in March, up by 30.2pc from the same month last year, according to the US Census Bureau.
Compared to the prior month, permits grew by 2.7pc. Single-unit housing accounted for 1.19 million permits while multi-unit building permits stood at 508,000 units in March.
Construction of 1.73 million private housing units began in March, up by 37pc compared with March 2020 and by 19.4pc from the prior month. Of this, 1.24 million units were single-family and 477,000 units were multi-unit residences.
Housing completions during the month stood at 1.58 million units, up 23.4pc from the prior-year period and 16.6pc higher than February.