Housing Starts and Permits Fell in February, Completions Rose

Washington, DC, March 16, 2018- Privately-owned housing starts in February were at a seasonally adjusted annual rate of 1,236,000, according to the U.S. Census Bureau. This is 7.0% below the revised January estimate of 1,329,000 and is 4.0% below the February 2017 rate of 1,288,000. Single-family housing starts in February were at a rate of 902,000; this is 2.9% above the revised January figure of 877,000. The February rate for units in buildings with five units or more was 317,000.

Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,298,000. This is 5.7% below the revised January rate of 1,377,000, but is 6.5% above the February 2017 rate of 1,219,000. Single-family authorizations in February were at a rate of 872,000; this is 0.6% below the revised January figure of 877,000. Authorizations of units in buildings with five units or more were at a rate of 385,000 in February.

Privately-owned housing completions in February were at a seasonally adjusted annual rate of 1,319,000. This is 7.8% above the revised January estimate of 1,224,000 and is 13.6% above the February 2017 rate of 1,161,000. Single-family housing completions in February were at a rate of 895,000; this is 3.0% above the revised January rate of 869,000. The February rate for units in buildings with five units or more was 418,000.