Residential Building Permits Up 17% in February

But housing starts down compared to year-ago period and the previous month, according to the latest residential construction report from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
residential construction February 2021

Privately owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,682,000, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. This is 17% above the February 2020 rate of 1,438,000 and 10.8% below the revised January rate of 1,886,000.

Single-family authorizations in February were at a rate of 1,143,000; this is 10% below the revised January figure of 1,270,000. Authorizations of units in buildings with five units or more were at a rate of 495,000 in February.

Privately owned housing starts in February were at a seasonally adjusted annual rate of 1,421,000. This is 9.3% below the February 2020 rate of 1,567,000 and 10.3% below the revised January estimate of 1,584,000. Single-family housing starts in February were at a rate of 1,040,000; this is 8.5% below the revised January figure of 1,136,000. The February rate for units in buildings with five units or more was 372,000.

Privately owned housing completions in February were at a seasonally adjusted annual rate of 1,362,000. This is 5% above the February 2020 rate of 1,297,000 and 2.9% above the revised January estimate of 1,324,000. Single-family housing completions in February were at a rate of 1,042,000; this is 2.8% above the revised January rate of 1,014,000. The February rate for units in buildings with five units or more was 314,000.

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