February Housing Starts Slipped from Jan., But Rose 39.2% YOY

Washington, DC, March 18, 2020-Privately‐owned housing starts in February were at a seasonally adjusted annual rate of 1,599,000, according to the U.S. Census Bureau. This is 1.5% below the revised January estimate of 1,624,000 but is 39.2% above the February 2019 rate of 1,149,000. Single‐family housing starts in February were at a rate of 1,072,000; this is 6.7% above the revised January figure of 1,005,000. The February rate for units in buildings with five units or more was 508,000.

Privately‐owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,464,000.

This is 5.5% below the revised January rate of 1,550,000 but is 13.8% above the February 2019 rate of 1,287,000. Single‐family authorizations in February were at a rate of 1,004,000; this is 1.7% above the revised January figure of 987,000. Authorizations of units in buildings with five units or more were at a rate of 415,000 in February.

Privately‐owned housing completions in February were at a seasonally adjusted annual rate of 1,316,000. This is 0.2% below the revised January estimate of 1,319,000 and is 1.2% below the February 2019 rate of 1,332,000. Single‐family housing completions in February were at a rate of 1,027,000; this is 14.1% above the revised January rate of 900,000. The February rate for units in buildings with five units or more was 280,000.