The 2020 Mid-Year Economic Update_long

Housing Starts in March Pass 1 Million

Starts were 46.7 percent above the prior-year period.

Privately-owned housing starts in March were at a seasonally adjusted annual rate of 1,036,000, 7 percent above February and 46.7 percent above March 2012, according to the U.S. Census Bureau and the Department of Housing and Urban Development.

Single-family housing starts in March were 619,000; this is 4.8 percent below the revised February figure of 650,000. The March rate for units in buildings with five units or more was 392,000.

Privately-owned housing units authorized by building permits in March were 902,000. This is 3.9 percent below February, but 17.3 percent above March 2012.

Single-family authorizations in March were 595,000; this is 0.5 percent below the revised February figure. Authorizations of units in buildings with five units or more were at a rate of 283,000 in March.

Privately-owned housing completions were 800,000. This is 11 percent above February and 36.3 percent above the March 2012 rate.

Single-family housing completions in March were 593,000; this is 2.6 percent above the revised February rate. The rate for units in buildings with five units or more was 202,000.

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