Housing Starts Down In March

Posted by Orb Staff on April 17, 2012 No Comments
Categories : Residential Mortgage

11343_homebuilder5 Housing Starts Down In March Privately owned housing starts in March were at a seasonally adjusted annual rate of 654,000, which is 5.8% below the revised February estimate of 694,000 but 10.3% above the March 2011 rate of 593,000, according to new data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.

Single-family housing starts in March were at a rate of 462,000; this is 0.2% below the revised February figure of 463,000. The March rate for units in buildings with five units or more was 178,000.

Privately owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 747,000. This is 4.5% above the revised February rate of 715,000 and 30.1% above the March 2011 estimate of 574,000. Single-family authorizations in March were at a rate of 462,000; this is 3.5% below the revised February figure of 479,000. Authorizations of units in buildings with five units or more were at a rate of 262,000 in March.

Privately owned housing completions in March were at a seasonally adjusted annual rate of 600,000. This is 4.2% above the revised February estimate of 576,000 and 0.5% above the March 2011 rate of 597,000. Single-family housing completions in March were at a rate of 440,000; this is 1.4% above the revised February rate of 434,000. The March rate for units in buildings with five units or more was 146,000.

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