Research >> Economics
March Housing starts down 10.8%, Permits down 9.0%
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BUILDING PERMITS
Privately-owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 513,000. This is 9.0 percent (±4.1%) below the revised February rate of 564,000 and is 45.0 percent (±4.1%) below the March 2008 estimate of 932,000. Single-family authorizations in March were at a rate of 361,000; this is 7.4 percent (±3.5%) below the revised February figure of 390,000. Authorizations of units in buildings with five units or more were at a rate of 132,000 in March.
HOUSING STARTS
Privately-owned housing starts in March were at a seasonally adjusted annual rate of 510,000. This is 10.8 percent (±11.6%) below the revised February estimate of 572,000 and is 48.4 percent (±5.9%) below the March 2008 rate of 988,000. Single-family housing starts in March were at a rate of 358,000; this is unchanged (±16.2%) from the revised February figure of 358,000. The March rate for units in buildings with five units or more was 116,000.
HOUSING COMPLETIONS
Privately-owned housing completions in March were at a seasonally adjusted annual rate of 824,000. This is 3.5 percent (±12.7%) above the revised February estimate of 796,000, but is 30.9 percent (±8.4%) below the March 2008 rate of 1,192,000. Single-family housing completions in March were at a rate of 550,000; this is 5.0 percent (±15.9%) above the revised February figure of 524,000. The March rate for units in buildings with five units or more was 263,000.
Posted: April 16, 2009 Thursday 08:30 AM