Research >> Economics
February Housing starts down 22.5%, Permits drop 8.2%
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BUILDING PERMITS
Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 517,000. This is 8.2 percent (±3.3%) below the revised January rate of 563,000 and is 20.5 percent (±3.5%) below the February 2010 estimate of 650,000. Single-family authorizations in February were at a rate of 382,000; this is 9.3 percent (±1.2%) below the revised January figure of 421,000. Authorizations of units in buildings with five units or more were at a rate of 121,000 in February.
HOUSING STARTS
Privately-owned housing starts in February were at a seasonally adjusted annual rate of 479,000. This is 22.5 percent (±9.8%) below the revised January estimate of 618,000 and is 20.8 percent (±9.0%) below the February 2010 rate of 605,000. Single-family housing starts in February were at a rate of 375,000; this is 11.8 percent (±10.0%) below the revised January figure of 425,000. The February rate for units in buildings with five units or more was 96,000.
HOUSING COMPLETIONS
Privately-owned housing completions in February were at a seasonally adjusted annual rate of 581,000. This is 13.9 percent (±16.8%) above the revised January estimate of 510,000, but is 13.0 percent (±14.9%) below the February 2010 rate of 668,000. Single-family housing completions in February were at a rate of 468,000; this is 11.2 percent (±15.6%) above the revised January rate of 421,000. The February rate for units in buildings with five units or more was 107,000.
Posted: March 16, 2011 Wednesday 08:30 AM