Housing Market Continues to Accelerate
Multi-family permits grow 4.6 percent for month; pace 33.8 hits percent over February 2012.
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for February 2013:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 946,000. This is 4.6 percent (±0.8%) above the revised January rate of 904,000 and is 33.8 percent (±1.4%) above the February 2012 estimate of 707,000.
Single-family authorizations in February were at a rate of 600,000; this is 2.7 percent (±0.7%) above the revised January figure of 584,000. Authorizations of units in buildings with five units or more were at a rate of 316,000 in February.
HOUSING STARTS
Privately-owned housing starts in February were at a seasonally adjusted annual rate of 917,000. This is 0.8 percent (±10.6%)* above the revised January estimate of 910,000 and is 27.7 percent (±13.7%) above the February 2012 rate of 718,000.
Single-family housing starts in February were at a rate of 618,000; this is 0.5 percent (±12.1%)* above the revised January figure of 615,000. The February rate for units in buildings with five units or more was 285,000.
HOUSING COMPLETIONS
Privately-owned housing completions in February were at a seasonally adjusted annual rate of 711,000. This is 0.6 percent (±10.0%)* below the revised January estimate of 715,000, but is 24.3 percent (±12.2%) above the February 2012 rate of 572,000.
Single-family housing completions in February were at a rate of 574,000; this is 3.6 percent (±11.7%)* above the revised January rate of 554,000. The February rate for units in buildings with five units or more was 130,000.
CONTRACTOR SUPPLY MAGAZINE
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