EconoIndicators / Housing Starts

Housing Starts - February 2008

Housing Starts At a Glance
Seasonally Adjusted

Housing Starts: 1,065,000
Monthly Change: Down 0.6%
Prior Month Revised Up by 59,000
Year-to-year Change: Down 28.4%
1-Family Monthly Change: Down 6.7%
Housing Completions: 1,208,000
Monthly Change: Down 8.8%
Year-to-year Change: Down 25.8%
1-Family Monthly Change: Down 9.4%
Building Permits: 978,000
Monthly Change: Down 7.8%
Year-to-year Change: Down 36.5%
1-Family Monthly Change: Down 6.2%

Technorati Tags: housing, starts, new, residential, construction

NEW RESIDENTIAL CONSTRUCTION IN FEBRUARY 2008
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential
construction statistics for February 2008:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 978,000.
This is 7.8 percent (±1.4%) below the revised January rate of 1,061,000 and is 36.5 percent (±1.7%) below the revised February 2007
estimate of 1,541,000.
Single-family authorizations in February were at a rate of 639,000; this is 6.2 percent (±1.6%) below the January figure of 681,000.
Authorizations of units in buildings with five units or more were at a rate of 295,000 in February.
HOUSING STARTS
Privately-owned housing starts in February were at a seasonally adjusted annual rate of 1,065,000. This is 0.6 percent (±11.2%)*
below the revised January estimate of 1,071,000 and is 28.4 percent (±8.3%) below the revised February 2007 rate of 1,487,000.
Single-family housing starts in February were at a rate of 707,000; this is 6.7 percent (±11.0%)* below the January figure of 758,000.
The February rate for units in buildings with five units or more was 331,000.
HOUSING COMPLETIONS
Privately-owned housing completions in February were at a seasonally adjusted annual rate of 1,208,000. This is 8.8 percent
(±10.5%)* below the revised January estimate of 1,324,000 and is 25.8 percent (±7.9%) below the revised February 2007 rate of
1,628,000.
Single-family housing completions in February were at a rate of 903,000; this is 9.4 percent (±11.0%)* below the January figure of
997,000. The February rate for units in buildings with five units or more was 279,000.
New Residential Construction data for March 2008 will be released on Wednesday, April 16, 2008, at 8:30 A.M. EDT.