The 2020 Mid-Year Economic Update_long

March Housing Starts Increase 9.2% YOY

Privately owned housing starts down 6.8 percent compared with February.

Privately owned housing starts in March were at a seasonally adjusted annual rate of 1,215,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development. This is 6.8 percent below the revised February estimate of 1,303,000 but 9.2 percent above the March 2016 rate of 1,113,000.

Single-family housing starts in March were at a rate of 821,000; this is 6.2 percent below the revised February figure of 875,000. The March rate for units in buildings with five units or more was 385,000.

Privately owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 1,260,000. This is 3.6 percent above the revised February rate of 1,216,000 and is 17 percent above the March 2016 estimate of 1,077,000.

Single-family authorizations in March were at a rate of 823,000; this is 1.1 percent below the revised February figure of 832,000. Authorizations of units in buildings with five units or more were at a rate of 401,000 in March.

Privately owned housing completions in March were at a seasonally adjusted annual rate of 1,205,000. This is 3.2 percent above the revised February estimate of 1,168,000 and is 13.4 percent above the March 2015 rate of 1,063,000.

Single-family housing completions in March were at a rate of 819,000; this is 7.9 percent above the revised February rate of 759,000. The March rate for units in buildings with five units or more was 374,000.

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