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Housing Starts Rise




The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for March 2018. 

Building Permits
Privately-owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 1,354,000. This is 2.5 percent above the revised February rate of 1,321,000 and is 7.5 percent above the March 2017 rate of 1,260,000. Single-family authorizations in March were at a rate of 840,000; this is 5.5 percent below the revised February figure of 889,000. Authorizations of units in buildings with five units or more were at a rate of 473,000 in March.

Housing Starts
Privately-owned housing starts in March were at a seasonally adjusted annual rate of 1,319,000. This is 1.9 percent above the revised February estimate of 1,295,000 and is 10.9 percent above the March 2017 rate of 1,189,000. Single-family housing starts in March were at a rate of 867,000; this is 3.7 percent below the revised February figure of 900,000. The March rate for units in buildings with five units or more was 439,000.

Housing Completions
Privately-owned housing completions in March were at a seasonally adjusted annual rate of 1,217,000. This is 5.1 percent below the revised February estimate of 1,282,000, but is 1.9 percent above the March 2017 rate of 1,194,000. Single-family housing completions in March were at a rate of 840,000; this is 4.7 percent below the revised February rate of 881,000. The March rate for units in buildings with five units or more was 371,000.

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