US housing started to fall in February from a three year high while the building permits jumped last month to the highest level in more than a year.
According to Commerce Department, building permits climbed 5.1% last month to an annual rate of 717,000. It was the highest level since the middle of the last recession in October 2008.
Housing started to drop 1.1% to a rate of 680,000 units from January, but it marked a 35% increase from a year earlier.
Construction of single-family houses fell almost 10% in February, being the biggest decrease in a year, according to today’s reports. The multi-family homes construction, including townhouses and apartment’s buildings, increased 21% to an annual rate of 241,000.
Most analysts expect the housing market to continue slightly to recover in 2012. It could take several years for the housing industry to full recovery.








