Housing starts in March decreases to a seasonally adjusted annual rate of 1.324 million, according to the U.S. Department of Commerce. This is 11.4% below the revised February estimate of 1.494 million but is 1.9% above the March 2024 rate of 1.299 million. Single-family housing starts in March were at a rate of 940,000; this is 14.2% below the revised February figure of 1,096,000. The March rate for units in buildings with five units or more was 371,000.
New building permits in March were at a seasonally adjusted annual rate of 1,482,000. This is 1.6% above the revised February rate of 1,459,000, but is 0.2% below the March 2024 rate of 1,485,000. Single-family authorizations in March were at a rate of 978,000; this is 2.0% below the revised February figure of 998,000. Authorizations of units in buildings with five units or more were at a rate of 445,000 in March.
Housing completions were at a seasonally adjusted annual rate of 1,549,000. This is 2.1% below the revised February estimate of 1,582,000, but is 3.9% above the March 2024 rate of 1,491,000. Single-family housing completions in March were at a rate of 1,029,000; this is 0.9% above the revised February rate of 1,020,000. The March rate for units in buildings with five units or more was 503,000.
Read the Census release
