Housing Starts Down in March

Apr 18, 2017

Single-family housing starts in March were at a rate of 821,000, which is 6.2 percent below the revised February figure of 875,000, according to new data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.

Privately-owned housing starts in March were at a seasonally adjusted annual rate of 1,215,000, which is 6.8 percent below the revised February estimate of 1,303,000—but it is also 9.2 percent above the March 2016 rate of 1,113,000.

Single-family authorizations in March were at a rate of 823,000, a 1.1 percent drop from the revised February figure of 832,000. But privately-owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 1,260,000, which is 3.6 percent above the revised February rate of 1,216,000 and 17 percent above the March 2016 rate of 1,077,000.

Single-family housing completions in March were at a rate of 819,000, which is 7.9 percent above the revised February rate of 759,000, while privately-owned housing completions in March were at a seasonally adjusted annual rate of 1,205,000, which is 3.2 percent above the revised February estimate of 1,168,000 and is 13.4 percent above the March 2016 rate of 1,063,000.

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Phil Hall

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Apr 18, 2017

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