Housing starts were at a seasonally adjusted annual rate of 1.769 million in February, according to the U.S. Census Bureau. This is 6.8% above the revised January estimate of 1.657 million and is 22.3% above the February 2021 rate of 1.447 million.
Housing starts were mixed across the country, increasing in the Northeast (28.7%), Midwest (15.3%), and South (11.4%), and decreasing in the West (-11.4%).
New building permits were 1.859 million in February, 1.9% below the previous month but 7.7% above the February 2021 rate of 1.726 million. Single-family building permits decreased 0.5% from the revised January figure.
Housing completions were at a seasonally adjusted annual rate of 1.309 million in February. This is 5.9% above the revised January estimate of 1.236 million and is 2.8% below the February 2021 rate of 1.347 million.
Read the Census release.