Single-family housing construction holds steady in February
Permits rise 1.7 percent and starts climb 6.7 percent for month.
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The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for February 2020:
Building Permits
Privately‐owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,464,000. This is 5.5 percent (±1.5 percent) below the revised January rate of 1,550,000, but is 13.8 percent (±2.1 percent) above the February 2019 rate of 1,287,000.
Single‐family authorizations in February were at a rate of 1,004,000; this is 1.7 percent (±1.4 percent) above the revised January figure of 987,000. Authorizations of units in buildings with five units or more were at a rate of 415,000 in February.
Housing Starts
Privately‐owned housing starts in February were at a seasonally adjusted annual rate of 1,599,000. This is 1.5 percent (±12.4 percent)* below the revised January estimate of 1,624,000, but is 39.2 percent (±17.7 percent) above the February 2019 rate of 1,149,000.
Single‐family housing starts in February were at a rate of 1,072,000; this is 6.7
percent (±13.9 percent)* above the revised January figure of 1,005,000. The February rate for units in buildings with five units or more was 508,000.
Housing Completions
Privately‐owned housing completions in February were at a seasonally adjusted annual rate of 1,316,000. This is 0.2 percent (±12.4 percent)* below the revised January estimate of 1,319,000 and is 1.2 percent (±14.8 percent)* below the February 2019 rate of 1,332,000.
Single‐family housing completions in February were at a rate of 1,027,000; this is 14.1 percent (±14.1 percent)* above the revised January rate of 900,000. The February rate for units in buildings with five units or more was 280,000.
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