Residential Permits Warm Up in February
Cold weather hinders housing starts but planning moves forward.
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for February 2014:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,018,000. This is 7.7 percent (±1.0%) above the revised January rate of 945,000 and is 6.9 percent (±1.2%) above the February 2013 estimate of 952,000.
Single-family authorizations in February were at a rate of 588,000; this is 1.8 percent (±0.9%) below the revised January figure of 599,000. Authorizations of units in buildings with five units or more were at a rate of 407,000 in February.
HOUSING STARTS
Privately-owned housing starts in February were at a seasonally adjusted annual rate of 907,000. This is 0.2 percent (±12.1%)* below the revised January estimate of 909,000 and is 6.4 percent (±9.9%)* below the February 2013 rate of 969,000.
Single-family housing starts in February were at a rate of 583,000; this is 0.3 percent (±12.0%)* above the revised January figure of 581,000. The February rate for units in buildings with five units or more was 312,000.
HOUSING COMPLETIONS
Privately-owned housing completions in February were at a seasonally adjusted annual rate of 886,000. This is 4.4 percent (±9.5%)* above the revised January estimate of 849,000 and is 21.9 percent (±13.9%) above the February 2013 rate of 727,000.
Single-family housing completions in February were at a rate of 631,000; this is 4.0 percent (±9.7%)* above the revised January rate of 607,000. The February rate for units in buildings with five units or more was 246,000.
CONTRACTOR SUPPLY MAGAZINE
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