New Housing Starts Drop 7.8% in March

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.S. new housing starts fell 7.8% in March to the lowest level in a year, the Commerce Department reported Tuesday.

The decline to a 1.96 million unit annual rate, from February’s 2.126 million, was below the 2.03 million forecast by economists, Bloomberg reported.

Building permits, an indicator of future construction, dropped 5.5% to a 2.059 million-unit annual rate.

Increased construction can mean more business for flatbed trucking companies that haul building materials. In home construction, dry van freight can see demand increases in for delivery of household appliances and furniture.

Housing starts fell in all four regions, Commerce said.