U.S. housing market permits slip 1.7 percent in March
But single-family completions surge 11.9 percent for month.
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for March 2019:
Building Permits
Privately‐owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 1,269,000. This is 1.7 percent (±1.4 percent) below the revised February rate of 1,291,000 and is 7.8 percent (±1.9 percent) below the March 2018 rate of 1,377,000.
Single‐family authorizations in March were at a rate of 808,000; this is 1.1 percent (±1.5 percent)* below the revised February figure of 817,000.
Authorizations of units in buildings with five units or more were at a rate of 425,000 in March.
Housing Starts
Privately‐owned housing starts in March were at a seasonally adjusted annual rate of 1,139,000. This is 0.3 percent (±14.6 percent)* below the revised February estimate of 1,142,000 and is 14.2 percent (±8.8 percent) below the March 2018 rate of 1,327,000.
Single‐family housing starts in March were at a rate of 785,000; this is 0.4 percent
(±15.2 percent)* below the revised February figure of 788,000.
The March rate for units in buildings with five units or more was 337,000.
Housing Completions
Privately‐owned housing completions in March were at a seasonally adjusted annual rate of 1,313,000. This is 1.9 percent (±19.5 percent)* below the revised February estimate of 1,338,000, but is 6.8 percent (±15.8 percent)* above the March 2018 rate of 1,229,000.
Single‐family housing completions in March were at a rate of 938,000; this is 11.9 percent (±14.2 percent)* above the revised February rate of 838,000.
The March rate for units in buildings with five units or more was 364,000
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