Housing starts surge to 15-year high in March
Starts soar 19.4 percent overall; single-family starts increase 15.3 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 March 2021:
Building Permits
Privately-owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 1,766,000. This is 2.7 percent (±1.7 percent) above the revised February rate of 1,720,000 and is 30.2 percent (±1.8 percent) above the March 2020 rate of 1,356,000.
Single-family authorizations in March were at a rate of 1,199,000; this is 4.6 percent (±1.9 percent) above the revised February figure of 1,146,000. Authorizations of units in buildings with five units or more were at a rate of 508,000 in March.
Housing Starts
Privately-owned housing starts in March were at a seasonally adjusted annual rate of 1,739,000. This is 19.4 percent (±13.7 percent) above the revised February estimate of 1,457,000 and is 37.0 percent (±15.2 percent) above the March 2020 rate of 1,269,000.
Single-family housing starts in March were at a rate of 1,238,000; this is 15.3 percent
(±17.4 percent)* above the revised February figure of 1,074,000. The March rate for units in buildings with five units or more was 477,000.
Housing Completions
Privately-owned housing completions in March were at a seasonally adjusted annual rate of 1,580,000. This is 16.6 percent (±14.0 percent) above the revised February estimate of 1,355,000 and is 23.4 percent (±13.7 percent) above the March 2020 rate of 1,280,000.
Single-family housing completions in March were at a rate of 1,099,000; this is 5.3 percent (±11.7 percent)* above the revised February rate of 1,044,000. The March rate for units in buildings with five units or more was 476,000.
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