The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau recently announced several new residential construction statistics for March 2014:
Privately owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 990,000. This is 2.4 percent (±1.0 percent) below the revised February rate of 1,014,000, but is 11.2 percent (±1.1 percent) above the March 2013 estimate of 890,000. Single-family authorizations in March were at a rate of 592,000; this is 0.5 percent (±1.0 percent)* above the revised February figure of 589,000. Authorizations of units in buildings with five units or more were at a rate of 370,000 in March.
Privately owned housing starts in March were at a seasonally adjusted annual rate of 946,000. This is 2.8 percent (±14.7 percent)* above the revised February estimate of 920,000, but is 5.9 percent (±8.4 percent)* below the March 2013 rate of 1,005,000. Single-family housing starts in March were at a rate of 635,000; this is 6.0 percent (±15.5 percent)* above the revised February figure of 599,000. The March rate for units in buildings with five units or more was 292,000.
Privately owned housing completions in March were at a seasonally adjusted annual rate of 872,000. This is 0.2 percent (±13.2 percent)* below the revised February estimate of 874,000, but is 7.7 percent (±14.3 percent)* above the March 2013 rate of 810,000. Single-family housing completions in March were at a rate of 602,000; this is 3.8 percent (±12.6 percent)* below the revised February rate of 626,000. The March rate for units in buildings with five units or more was 258,000.
For more information, visit www.census.gov/developers.
Copyright© 2016 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.
Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com