Housing Starts Down, Building Permits Up In February

Posted by Orb Staff on March 20, 2012 No Comments
Categories : Residential Mortgage

11133_homebuilder4 Housing Starts Down, Building Permits Up In February Single-family housing starts in February were at a rate of 457,000 – 9.9% below the revised January figure of 507,000, 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 February were at a seasonally adjusted annual rate of 698,000 – 1.1% below the revised January estimate of 706,000, but 34.7% above the February 2011 rate of 518,000.

Privately owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 717,000 – 5.1% above the revised January rate of 682,000 and 34.3% above the February 2011 estimate of 534,000. Single-family authorizations were at a rate of 472,000, which is 4.9% above the revised January figure of 450,000. Authorizations of units in buildings with five units or more were at a rate of 219,000.

Privately owned housing completions were at a seasonally adjusted annual rate of 568,000, which is 6.2% above the revised January estimate of 535,000, but 7% below the February 2011 rate of 611,000. Single-family housing completions were at a rate of 421,000 – 8.2% above the revised January rate of 389,000. The February rate for units in buildings with five units or more was 144,000.

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