Housing Starts Fell 8.7% in February

Washington, DC, March 26, 2019-Privately‐owned housing starts in February were at a seasonally adjusted annual rate of 1,162,000, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced, 8.7% below the revised January estimate of 1,273,000 and 9.9% below the February 2018 rate of 1,290,000.

Single‐family housing starts in February were at a rate of 805,000; this is 17.0% below the revised January figure of 970,000. The February rate for units in buildings with five units or more was 352,000.

Privately‐owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,296,000. This is 1.6% below the revised January rate of 1,317,000 and is 2.0% below the February 2018 rate of 1,323,000. Single‐family authorizations in February were at a rate of 821,000; this is 0.0% below the revised January figure of 821,000. Authorizations of units in buildings with five units or more were at a rate of 439,000 in February.

Privately‐owned housing completions in February were at a seasonally adjusted annual rate of 1,303,000. This is 4.5% above the revised January estimate of 1,247,000 and is 1.1% above the February 2018 rate of 1,289,000. Single‐family housing completions in February were at a rate of 816,000; this is 10.0% below the revised January rate of 907,000. The February rate for units in buildings with five units or more was 473,000.