Driven by multifamily activity, permits to build new housing decreased last month. But apartments drove up the rate of completed construction.

Municipalities issued a preliminary 84,500 building permits for the construction of single-family and multifamily properties during February 2017.

Permits fell from an upwardly revised 87,300 the previous month but were no different than the upwardly revised figure the same month last year.

Source: Mortgage Daily