Single‐family housing starts were at a rate of 861,000 in March, according to new data from the U.S. Census Bureau and U.S. Department of Housing and Urban Development. The March rate is 2.7% above the revised February figure of 838,000.
However, privately‐owned housing starts in March were at a seasonally adjusted annual rate of 1.42 million, which is 0.8% below the revised February estimate of 1.43 million and 17.2% below the March 2022 rate of 1.7 million.
Single‐family authorizations in March were at a rate of 818,000, up 4.1% from the revised February figure of 786,000. Privately‐owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 1.4 million, an 8.8% drop from the revised February rate of 1.5 million and 24.8% below the March 2022 rate of 1.8 million.
Single‐family housing completions in March were at a rate of 1.05 million, up 2.4% from February’s rate of 1.025 million. Privately‐owned housing completions in March were at a seasonally adjusted annual rate of 1.54 million, a 0.6% dip from the revised February estimate of 1.55 million and a 12.9% spike from the March 2022 rate of 1.36 million.
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