New residential construction climbs in March
Privately-owned housing permits climb 7.5 percent; single-family climbs 5.6 percent.
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for March 2010:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 685,000. This is 7.5 percent (±1.3%) above the revised February rate of 637,000 and is 34.1 percent (±2.6%) above the March 2009 estimate of
511,000.
Single-family authorizations in March were at a rate of 543,000; this is 5.6 percent (±1.5%) above the revised February figure of 514,000. Authorizations of units in buildings with five units or more were at a rate of 120,000 in March.
HOUSING STARTS
Privately-owned housing starts in March were at a seasonally adjusted annual rate of 626,000. This is 1.6 percent (±15.2%)* above the revised February estimate of 616,000 and is 20.2 percent (±15.3%) above the March 2009 rate of 521,000.
Single-family housing starts in March were at a rate of 531,000; this is 0.9 percent (±12.1%)* below the revised February figure of 536,000. The March rate for units in buildings with five units or more was 88,000.
HOUSING COMPLETIONS
Privately-owned housing completions in March were at a seasonally adjusted annual rate of 656,000. This is 3.1 percent (±16.7%)* below the revised February estimate of 677,000 and is 21.2 percent (±8.9%) below the March 2009 rate of 833,000.
Single-family housing completions in March were at a rate of 486,000; this is 5.9 percent (±14.6%)* above the revised February rate of 459,000. The March rate for units in buildings with five units or more was 161,000.
