Research >> Economics
March Housing Starts decreased 22.3%, Permits down 6.8%
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Building Permits
Privately‐owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 1,353,000. This is 6.8 percent (±1.1 percent) below the revised February rate of 1,452,000, but is 5.0 percent (±2.4 percent) above the March 2019 rate of 1,288,000. Single‐family authorizations in March were at a rate of 884,000; this is 12.0 percent (±1.9 percent) below the revised February figure of 1,005,000. Authorizations of units in buildings with five units or more were at a rate of 423,000 in March.
Housing Starts
Privately‐owned housing starts in March were at a seasonally adjusted annual rate of 1,216,000. This is 22.3 percent (±12.2 percent) below the revised February estimate of 1,564,000, but is 1.4 percent (±12.7 percent)* above the March 2019 rate of 1,199,000. Single‐family housing starts in March were at a rate of 856,000; this is 17.5 percent (±13.1 percent) below the revised February figure of 1,037,000. The March rate for units in buildings with five units or more was 347,000.
Housing Completions
Privately‐owned housing completions in March were at a seasonally adjusted annual rate of 1,227,000. This is 6.1 percent (±12.0 percent)* below the revised February estimate of 1,307,000 and is 9.0 percent (±12.4 percent)* below the March 2019 rate of 1,348,000. Single‐family housing completions in March were at a rate of 863,000; this is 15.0 percent (±11.6 percent) below the revised February rate of 1,015,000. The March rate for units in buildings with five units or more was 357,000.
Posted: April 16, 2020 Thursday 08:30 AM