WASHINGTON—U.S. homebuilding dropped to a six-month low in February as severe cold gripped many parts of the country, in a setback for a housing market that remains supported by extremely lean inventories amid strong demand for larger homes.
Housing starts fell 10.3 percent to a seasonally adjusted annual rate of 1.421 million units last month, the lowest level since last August, the Commerce Department said on March 17. Economists polled by Reuters had forecast starts would decrease to a rate of 1.560 million units in February.
