The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for February 2012.

BUILDING PERMITS

Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 717,000. This is 5.1 percent  above the revised January rate of 682,000 and is 34.3 percent  above the February 2011 estimate of 534,000.

Single-family authorizations in February were at a rate of 472,000; this is 4.9 percent  above the revised January figure of 450,000. Authorizations of units in buildings with five units or more were at a rate of 219,000 in February.

HOUSING STARTS

Privately-owned housing starts in February were at a seasonally adjusted annual rate of 698,000. This is 1.1 percent  below the revised January estimate of 706,000, but is 34.7 percent  above the February 2011 rate of 518,000.

Single-family housing starts in February were at a rate of 457,000; this is 9.9 percent  below the revised January figure of 507,000. The February rate for units in buildings with five units or more was 233,000.

HOUSING COMPLETIONS

Privately-owned housing completions in February were at a seasonally adjusted annual rate of 568,000. This is 6.2 percent  above the revised January estimate of 535,000, but is 7.0 percent  below the February 2011 rate of 611,000.

Single-family housing completions in February were at a rate of 421,000; this is 8.2 percent  above the revised January rate of 389,000. The February rate for units in buildings with five units or more was 144,000.