Housing starts in March increased 7.2% above the revised February figure of 512,000, but are 13.4% below the March 2010 rate of 634,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development.

Building Permits

Privately-owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 594,000. This is 11.2% above the revised February rate of 534,000, but is 13.3% below the March 2010 estimate of 685,000.

Single-family authorizations in March were at a rate of 405,000; this is 5.7% above the revised February figure of 383,000. Authorizations of units in buildings with five units or more were at a rate of 173,000 in March.

Housing Starts

Privately-owned housing starts in March were at a seasonally adjusted annual rate of 549,000. This is 7.2% above the revised February estimate of 512,000, but is 13.4% below the March 2010 rate of 634,000.

Single-family housing starts in March were at a rate of 422,000; this is 7.7% above the revised February figure of 392,000. The March rate for units in buildings with five units or more was 117,000.

Housing Completions
Privately-owned housing completions in March were at a seasonally adjusted annual rate of 509,000. This is 14.2% below the revised February estimate of 593,000 and is 20.8% below the March 2010 rate of 643,000.

Single-family housing completions in March were at a rate of 374,000; this is 22.2% below the revised February rate of 481,000. The March rate for units in buildings with five units or more was 130,000.