"Surge in New Homes Floods Housing Market"
The housing market saw a surge in new-home construction in February, with privately owned housing completions and housing starts both experiencing significant increases. The rebound is attributed to warming weather and improved supply chains, signaling a recovery from pandemic-related volatility. The construction of single-family properties is expected to alleviate pressure on the market, and building permits for new-home construction also rose, indicating a positive outlook for the year. As warmer weather approaches and interest rates are expected to decrease, activity in the housing market is anticipated to pick up even more during the prime spring home-buying season.