Housing starts in February increased to a seasonally adjusted annual rate of 1.501 million, according to the U.S. Department of Commerce. This is 11.2% above the revised January estimate of 1.350 million but is 2.9% below the February 2024 rate of 1.546 million. Single-family housing grew to a rate of 1,108,000, 11.4% above the revised January figure of 995,000.
New building permits in February decreased to a seasonally adjusted annual rate of 1.456 million, according to the U.S. Department of Commerce. This is 1.2% below the revised January rate of 1.473 million and is 6.8% below the February 2024 rate of 1.563 million. Single-family housing grew to a rate of 992,000, 0.2% below the revised January figure of 994,000.
Housing completions were at a seasonally adjusted annual rate of 1.592 million, 4.0% below the revised January estimate of 1.659 million and is 6.2% below the February rate of 1.698 million. Single-family housing completions in February grew to a rate of 1,066,000, 7.1% above the revised January rate of 995,000.
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