Building permits for new housing units in the US increased by 17pc to 1.6 million units in February from 1.44 million units a year ago, according to data from the US Census Bureau. However, permits fell by 10.8pc compared to 1.88 million units in January.
Last month, housing starts in the US amounted to 1.42 million units, down by 9.3pc from 1.56 million units in February 2020. Singe-unit starts accounted for 1.04 million units while multi-unit buildings were at 372,000 units.
Meanwhile, housing completions rose by 5pc in February at 1.36 million units against 1.29 million units in the prior-year period.