February Housing Starts Up 30.9% Year Over Year

Washington, DC, March 16, 2016—Privately-owned housing starts in February were at a seasonally adjusted annual rate of 1,178,000, 5.2% above the revised January estimate of 1,120,000 and 30.9% above the February 2015 rate of 900,000, the U.S. Census Bureau and the Department of Housing and Urban Development jointly announced.

Single-family housing starts in February were at a rate of 822,000; this is 7.2 % above the revised January figure of 767,000. The February rate for units in buildings with five units or more was 341,000.

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% below the revised January rate of 1,204,000, but is 6.3% 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% 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.

Privately-owned housing completions in February were at a seasonally adjusted annual rate of 1,016,000. This is 4.2% below the revised January estimate of 1,060,000, but is 17.5% 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% above the revised January rate of 694,000. The February rate for units in buildings with five units or more was 261,000.