March Housing Starts Rose 10.9% YOY

Washington, DC, April 17, 2018- Privately-owned housing starts in March were at a seasonally adjusted annual rate of 1,319,000, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced. This is 1.9% above the revised February estimate of 1,295,000 and is 10.9% above the March 2017 rate of 1,189,000.

Single-family housing starts in March were at a rate of 867,000; this is 3.7% below the revised February figure of 900,000. The March rate for units in buildings with five units or more was 439,000.

Privately-owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 1,354,000. This is 2.5% above the revised February rate of 1,321,000 and is 7.5% above the March 2017 rate of 1,260,000. Single-family authorizations in March were at a rate of 840,000; this is 5.5% below the revised February figure of 889,000. Authorizations of units in buildings with five units or more were at a rate of 473,000 in March.

Privately-owned housing completions in March were at a seasonally adjusted annual rate of 1,217,000. This is 5.1% below the revised February estimate of 1,282,000, but is 1.9% above the March 2017 rate of 1,194,000. Single-family housing completions in March were at a rate of 840,000; this is 4.7% below the revised February rate of 881,000. The March rate for units in buildings with five units or more was 371,000.