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February 2016 Housing Starts

February starts up almost 31 percent from this time last year.

March 16, 2016

NEW RESIDENTIAL CONSTRUCTION IN FEBRUARY 2016

The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for February 2016:

BUILDING PERMITS up 6.3 percent

Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,167,000. This is  3.1 percent  below the revised January rate of 1,204,000, but is 6.3 percent above the February 2015 estimate of 1,098,000.

Single-family authorizations in February were at a rate of 731,000; this is 0.4 percent above the revised January figure of 728,000. Authorizations of units in buildings with five units or more were at a rate of 401,000 in February.

HOUSING STARTS up 30.1 percent

Privately-owned housing starts in February were at a seasonally adjusted annual rate of 1,178,000. This is 5.2 percent  above the revised January estimate of 1,120,000 and is 30.9 percent above the February 2015 rate of 900,000.

Single-family housing starts in February rose 7.2 percent to 822,000, above the revised January figure of 767,000. The February rate for units in buildings with five units or more was 341,000.

HOUSING COMPLETIONS up 17.5 percent

Privately-owned housing completions in February were at a seasonally adjusted annual rate of 1,016,000. This is 4.2 percent below the revised January estimate of 1,060,000, but is 17.5 percent above the February 2015 rate of 865,000.

Single-family housing completions in February were at a rate of 736,000; this is 6.1 percent above the revised January rate of 694,000. The February rate for units in buildings with five units or more was 261,000.

For complete February 2016 data, please go to: US Department of Housing and Urban Development

 

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