EconoIndicators / Housing Starts

Housing Starts - March 2008

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Housing Starts At a Glance
Seasonally Adjusted

Housing Starts: 947,000
Monthly Change: Down 11.9%
Year-to-year Change: Down 36.5%
1-Family Monthly Change: Down 5.7%
Housing Completions: 1,216,000
Monthly Change: Down 2.7%
Year-to-year Change: Down 24.5%
1-Family Monthly Change: Up 3.3%
Building Permits: 927,000
Monthly Change: Down 5.8%
Year-to-year Change: Down 40.9%
1-Family Monthly Change: Down 6.2%

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

NEW RESIDENTIAL CONSTRUCTION IN MARCH 2008
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential
construction statistics for March 2008:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 927,000.
This is 5.8 percent (±1.7%) below the revised February rate of 984,000 and is 40.9 percent (±1.9%) below the revised March 2007
estimate of 1,569,000.
Single-family authorizations in March were at a rate of 606,000; this is 6.2 percent (±2.1%) below the February figure of 646,000.
Authorizations of units in buildings with five units or more were at a rate of 286,000 in March.
HOUSING STARTS
Privately-owned housing starts in March were at a seasonally adjusted annual rate of 947,000. This is 11.9 percent (±11.6%) below
the revised February estimate of 1,075,000 and is 36.5 percent (±5.2%) below the revised March 2007 rate of 1,491,000.
Single-family housing starts in March were at a rate of 680,000; this is 5.7 percent (±11.1%)* below the February figure of 721,000.
The March rate for units in buildings with five units or more was 247,000.
HOUSING COMPLETIONS
Privately-owned housing completions in March were at a seasonally adjusted annual rate of 1,216,000. This is 2.7 percent (±11.6%)*
below the revised February estimate of 1,250,000 and is 24.5 percent (±7.1%) below the revised March 2007 rate of 1,610,000.
Single-family housing completions in March were at a rate of 944,000; this is 3.3 percent (±12.8%)* above the February figure of
914,000. The March rate for units in buildings with five units or more was 258,000.