Housing starts increased in February

Privately‐owned housing starts in February were at a seasonally adjusted annual rate of 1,450,000.  This is 9.8% above the revised January estimate of 1,321,000 but is 18.4% below the February 2022 rate of 1,777,000.

Housing starts were mixed across the country, increasing in the West (30.0%), South (10.9%), Midwest (9.6%), and but decreasing in the Northeast (-2.8%)

Building permits in February were at a seasonally adjusted annual rate of 1,524,000.  This is 13.8% above the revised January rate of 1,339,000 but is 17.9% below the February 2022 rate of 1,857,000.  Single‐family authorizations in February were at a rate of 777,000; this is 7.6% above the revised January figure of 722,000.

Housing completions in February were at a seasonally adjusted annual rate of 1,557,000.  This is 12.2% above the revised January estimate of 1,388,000 and is 12.8% above the February 2022 rate of 1,380,000.  Single‐family housing completions in February were at a rate of 1,037,000; this is 1.0% above the revised January rate of 1,027,000.

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