Housing Starts Increased 5.2% In February

Posted by Patrick Barnard on March 16, 2016 No Comments
Categories : Residential Mortgage

Housing starts in February were at a seasonally adjusted annual rate of 1.178 million, an increase of 5.2% compared with the revised January estimate of 1.120 million and 30.9% above the February 2015 rate of 900,000, according to estimates released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.

Starts of single-family homes were at a rate of about 822,000, an increase of 7.2% compared with the revised January figure of about 767,000. Starts of multifamily units (five or more units per building) were at a rate of about 341,000, an increase of 2.4% compared with about 333,000 in January.

Building permits in February were at a seasonally adjusted annual rate of about 1.167 million, a decrease of 3.1% compared with the revised January rate of about 1.204 million but an increase of 6.3% compared with the February 2015 estimate of 1.098 million.

Permits for single-family homes were at a rate of about 731,000, an increase of 0.4% compared with the revised January figure of about 728,000. Permits for multifamily units were at a rate of 401,000, a decrease of 9.1% compared with 441,000 in February.

Housing completions were at a rate of 1.016 million, a decrease of 4.2% compared with the revised January estimate of 1.060 million but an increase of 17.5% compared with the February 2015 rate of 865,000.

Completions of single-family homes were at a rate of about 736,000, an increase of 6.1% compared with the revised January rate of about 694,000. Completions of multifamily units were at a rate of about 261,000, a decrease of 25.2% compared with about 349,000 units in January.

Register here to receive our Latest Headlines email newsletter

Leave a Comment