The 2020 Mid-Year Economic Update_long

February Housing Starts Decrease 3.3% YOY

Privately owned housing starts down 17 percent compared with January.

Privately owned housing starts in February were at a seasonally adjusted annual rate of 897,000, according to the U.S. Census Bureau and the Department of Housing and Development. This is 17 percent below the revised January estimate of 1,081,000, and is 3.3 percent below the February 2014 rate of 928,000.

Single-family housing starts in February were at a rate of 593,000; this is 14.9 percent below the revised January figure of 697,000. The February rate for units in buildings with five units or more was 297,000.

Privately owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,092,000. This is 3 percent above the revised January rate of 1,060,000, and is 7.7 percent above the February 2014 estimate of 1,014,000.

Single-family authorizations in February were at a rate of 620,000; this is 6.2 percent below the revised January figure of 661,000. Authorizations of units in buildings with five units or more were at a rate of 445,000 in February.

Privately owned housing completions in February were at a seasonally adjusted annual rate of 850,000. This is 13.8 percent below the revised January estimate of 986,000 and is 1.8 percent below the February 2014 rate of 866,000.

Single-family housing completions in January were at a rate of 595,000; this is 12.1 percent below the revised January rate of 677,000. The February rate for units in buildings with five units or more was 236,000.

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