Single-family residential construction inches up in March
Permits, starts and completions all rise for month.
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for March 2015:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 1,039,000. This is 5.7 percent (±2.0%) below the revised February rate of 1,102,000, but is 2.9 percent (±0.9%) above the March 2014 estimate of 1,010,000.
Single-family authorizations in March were at a rate of 636,000; this is 2.1 percent (±0.9%) above the revised February figure of 623,000. Authorizations of units in buildings with five units or more were at a rate of 378,000 in March.
HOUSING STARTS
Privately-owned housing starts in March were at a seasonally adjusted annual rate of 926,000. This is 2.0 percent (±13.0%)* above the revised February estimate of 908,000, but is 2.5 percent (±11.5%)* below the March 2014 rate of 950,000.
Single-family housing starts in March were at a rate of 618,000; this is 4.4 percent (±12.3%)* above the revised February figure of 592,000. The March rate for units in buildings with five units or more was 287,000.
HOUSING COMPLETIONS
Privately-owned housing completions in March were at a seasonally adjusted annual rate of 823,000. This is 3.9 percent (±10.4%)* below the revised February estimate of 856,000 and is 5.8 percent (±10.2%)* below the March 2014 rate of 874,000.
Single-family housing completions in March were at a rate of 602,000; this is 0.8 percent (±11.5%)* above the revised February rate of 597,000. The March rate for units in buildings with five units or more was 211,000.
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