The 2020 Mid-Year Economic Update_long

Midwest, Northeast: Steep Drops in February Housing Starts

Building Permits
Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,532,000. This is 2.5 percent (& plusmn; 1.0%) below the revised January rate of 1,571,000 and is 28.6 percent (& plusmn; 1.1%) below the February 2006 estimate of 2,147,000.
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Single-family authorizations in February were at a rate of 1,089,000; this is 3.1 percent (& plusmn; 0.9%) below the January figure of 1,124,000. Authorizations of units in buildings with five units or more were at a rate of 372,000 in February.
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Housing Starts
Privately-owned housing starts in February were at a seasonally adjusted annual rate of 1,525,000. This is 9.0 percent (& plusmn; 10.2%) ...

Building Permits
Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,532,000. This is 2.5 percent (& plusmn; 1.0%) below the revised January rate of 1,571,000 and is 28.6 percent (& plusmn; 1.1%) below the February 2006 estimate of 2,147,000.
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Single-family authorizations in February were at a rate of 1,089,000; this is 3.1 percent (& plusmn; 0.9%) below the January figure of 1,124,000. Authorizations of units in buildings with five units or more were at a rate of 372,000 in February.
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Housing Starts
Privately-owned housing starts in February were at a seasonally adjusted annual rate of 1,525,000. This is 9.0 percent (& plusmn; 10.2%)above the revised January estimate of 1,399,000, but is 28.5 percent (& plusmn; 6.2%) below the February 2006 rate of 2,132,000.
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Single-family housing starts in February were at a rate of 1,220,000; this is 10.3 percent (& plusmn; 8.8%) above the January figure of 1,106,000. The February rate for units in buildings with five units or more was 266,000.

Starts % Change Northeast Midwest South West
Jan-February -29.7% -14.4% +18.0% +26.4%
Feb 06-Feb 07 -27.4% -50.6% -20.3% -30.9%




Housing Completions
Privately-owned housing completions in February were at a seasonally adjusted annual rate of 1,664,000. This is 9.4 percent (& plusmn; 7.7%) below the revised January estimate of 1,836,000 and is 18.4 percent (& plusmn; 6.0%) below the February 2006 rate of 2,038,000.
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Single-family housing completions in February were at a rate of 1,328,000; this is 11.3 percent (& plusmn; 9.7%) below the January figure of 1,498,000. The February rate for units in buildings with five units or more was 299,000.
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*Census Bureau does not have statistical evidence to conclude that the change is different from zero.
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Source: U.S. Census Bureau and the Department of Housing and Urban Development

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