• Contractingbusiness 7972 Housing Starts Image
    Contractingbusiness 7972 Housing Starts Image
    Contractingbusiness 7972 Housing Starts Image
    Contractingbusiness 7972 Housing Starts Image
    Contractingbusiness 7972 Housing Starts Image

    Housing Starts Dip in March But Show Year-Over-Year Growth

    April 24, 2017
    Privately-owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 1,260,000, 3.6% above the revised February rate of 1,216,000 and 17% above the March 2016 rate of 1,077,000. Single-family authorizations in March were at a rate of 823,000, 1.1% below the revised February figure of 832,000. 

    Privately-owned housing starts in March were at a seasonally adjusted annual rate of 1,215,000, 6.8% below the revised February estimate of 1,303,000, but 9.2% above the March 2016 rate of 1,113,000, according to the latest data from the U.S. Census Dept. Single-family housing starts in March were at a rate of 821,000, 6.2% below the revised February figure of 875,000. The March rate for units in buildings with five units or more was 385,000.

    “The three-month moving average for single-family starts has reached a post-recession high, which shows that this sector is continuing to firm,” said NAHB Chief Economist Robert Dietz in a press release. “We can expect further gains in single-family production throughout the year, while multifamily starts should level off.”

    Building permits. Privately-owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 1,260,000, 3.6% above the revised February rate of 1,216,000 and 17% above the March 2016 rate of 1,077,000. Single-family authorizations in March were at a rate of 823,000, 1.1% below the revised February figure of 832,000. Authorizations of units in buildings with five units or more were at a rate of 401,000 in March.