Research >> Economics
March Housing Starts down 5.8%, Permits up 4.5%
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BUILDING PERMITS
Privately-owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 747,000. This is 4.5 percent (±1.1%) above the revised February rate of 715,000 and is 30.1 percent (±1.6%) above the March 2011 estimate of 574,000. Single-family authorizations in March were at a rate of 462,000; this is 3.5 percent (±1.1%) below the revised February figure of 479,000. Authorizations of units in buildings with five units or more were at a rate of 262,000 in March.
HOUSING STARTS
Privately-owned housing starts in March were at a seasonally adjusted annual rate of 654,000. This is 5.8 percent (±15.6%) below the revised February estimate of 694,000, but is 10.3 percent (±14.6%) above the March 2011 rate of 593,000. Single-family housing starts in March were at a rate of 462,000; this is 0.2 percent (±12.6%) below the revised February figure of 463,000. The March rate for units in buildings with five units or more was 178,000.
HOUSING COMPLETIONS
Privately-owned housing completions in March were at a seasonally adjusted annual rate of 600,000. This is 4.2 percent (±13.5%) above the revised February estimate of 576,000 and is 0.5 percent (±15.3%) above the March 2011 rate of 597,000. Single-family housing completions in March were at a rate of 440,000; this is 1.4 percent (±12.5%) above the revised February rate of 434,000. The March rate for units in buildings with five units or more was 146,000.
Posted: April 17, 2012 Tuesday 08:30 AM