Housing starts were at a seasonally adjusted annual rate of 1.793 million in March, according to the U.S. Census Bureau. This is 0.3% above the revised February estimate of 1.788 million and is 3.9% above the March 2021 rate of 1.725 million.
Housing starts were mixing across the country, increasing in the Northeast (77.6%) and the West (13.9%), but decreasing in the Midwest (19.4%), and the South (6.4%).
New building permits were 1.873 million in March, 0.4% below the previous month but 6.7% above the March 2021 rate of 1.755 million. Single-family building permits decreased 4.8% from the revised February figure.
Housing completions were at a seasonally adjusted annual rate of 1.303 million in March. This is 4.5% below the revised February estimate of 1.365 million and is 13.0% below the March 2021 rate of 1.497 million.
Read the Census release.