Single‐family housing starts in February were at a rate of 1.12 million, according to new data from the U.S. Census Bureau and U.S. Department of Housing and Urban Development. This is 11.6% above the revised January figure of 1.01 million.
Privately‐owned housing starts in February were at a seasonally adjusted annual rate of 1.52 million, which is 10.7% above the revised January estimate of 1.37 million and is 5.9% above the February 2023 rate of 1.43 million.
Single‐family authorizations in February were at a rate of 1.03 million, a 1% uptick from the revised January figure of 1.02 million. Privately‐owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1.51 million, a 1.9% increase from the revised January rate of 1.489 million and 2.4% above the February 2023 rate of 1.482 million.
Single‐family housing completions in February were at a rate of 1.07 million, a 20.2% spike from the revised January rate of 892,000. The February rate for units. Privately‐owned housing completions in February were at a seasonally adjusted annual rate of 1.72 million, which is 19.7% above the revised January estimate of 1.44 million and 9.6% above the February 2023 rate of 1.57 million.
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