The 2020 Mid-Year Economic Update_long

March Housing Starts Increase 2.9% YOY

Privately owned housing starts down 5.7 percent compared with February.

Privately owned housing starts in March were at a seasonally adjusted annual rate of 1,039,000, according to the U.S. Census Bureau and the Department of Housing and Development. This is 5.7 percent below the revised February rate of 1,102,000, but is 2.9 percent above the March 2014 rate of 1,010,000.

Single-family housing starts in March were at a rate of 636,000; this is 2.1 percent above the revised February figure of 623,000. The March rate for units in buildings with five units or more was 378,000.

Privately owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 926,000. This is 2 percent above the revised February estimate of 908,000, but is 2.5 percent below the March 2014 rate of 950,000.

Single-family authorizations in March were at a rate of 618,000; this is 4.4 percent above the revised February figure of 592,000. Authorizations of units in buildings with five units or more were at a rate of 287,000 in March.

Privately owned housing completions in March were at a seasonally adjusted annual rate of 823,000. This is 3.9 percent below the revised February estimate of 856,000 and is 5.8 percent below the March 2014 rate of 874,000.

Single-family housing completions in March were at a rate of 602,000; this is 0.8 percent above the revised February rate of 597,000. The March rate for units in buildings with five units or more was 211,000.

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