Housing Starts Increased by 3% in February, 6.2% YOY

Washington, DC, March 16, 2017—Privately owned housing starts in February were at a seasonally adjusted annual rate of 1,288,000, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced.

This is 3.0% above the revised January estimate of 1,251,000 and is 6.2% above the February 2016 rate of 1,213,000.

Single-family housing starts in February were at a rate of 872,000; this is 6.5% above the revised January figure of 819,000. The February rate for units in buildings with five units or more was 396,000.

Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,213,000. This is 6.2% below the revised January rate of 1,293,000, but is 4.4% above the February 2016 rate of 1,162,000. Single-family authorizations in February were at a rate of 832,000; this is 3.1% above the revised January figure of 807,000. Authorizations of units in buildings with five units or more were at a rate of 334,000 in February.

Privately-owned housing completions in February were at a seasonally adjusted annual rate of 1,114,000. This is 5.4% above the revised January estimate of 1,057,000 and is 8.7% above the February 2016 rate of 1,025,000. Single-family housing completions in February were at a rate of 754,000; this is 6.5% below the revised January rate of 806,000. The February rate for units in buildings with five units or more was 344,000.