March Housing Starts Fell 6.8% from February, but Up 9.2% YOY

Washington, DC, April 18, 2017— Privately-owned housing starts in March were at a seasonally adjusted annual rate of 1,215,000, 6.8% below the revised February estimate of 1,303,000, but is 9.2% above the March 2016 rate of 1,113,000, according to the Commerce Department.

Single-family housing starts in March were at a rate of 821,000; this is 6.2% below the revised February figure of 875,000. The March rate for units in buildings with five units or more was 385,000.

Privately-owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 1,260,000. This is 3.6% above the revised February rate of 1,216,000 and is 17.0% above the March 2016 rate of 1,077,000.

Single-family authorizations in March were at a rate of 823,000; this is 1.1% below the revised February figure of 832,000. Authorizations of units in buildings with five units or more were at a rate of 401,000 in March.

Privately-owned housing completions in March were at a seasonally adjusted annual rate of 1,205,000. This is 3.2% above the revised February estimate of 1,168,000 and is 13.4% above the March 2016 rate of 1,063,000.

Single-family housing completions in March were at a rate of 819,000; this is 7.9% above the revised February rate of 759,000. The March rate for units in buildings with five units or more was 374,000.