Housing Starts and Permits Down but Housing Completions were Up in February 2021

The U.S. Census Bureau has reported that privately‐owned housing starts in February were at a seasonally adjusted annual rate (SAAR) of 1,421,000. This is -10.3% below the revised January estimate of 1,584,000 and is -9.3% below the February 2020 rate. Single-family housing starts in February were at a rate of 1,040,000; and this is -8.5% below the revised January figure. The February rate for units in buildings with five units or more was 372,000. Building Permits are the forward-looking portion of the report and in February privately-owned housing units authorized by building permits were at a SAAR of 1,682,000. This is -10.8% below the revised January rate of 1,886,000 but is 17% above the February 2020 rate. Single-family authorizations in February were at a rate of 1143,000; this is -10% below the January figure of 1,270,000. Authorizations of units in buildings with five units or more were at a rate of 495,000. Privately-owned housing completions in February were at a seasonally adjusted annual rate of 1,362,000. This is 2.9% above the revised January estimate of 1,324,000 and is 5.0% above the February 2020 rate of 1,297,000. Single-family housing completions in February were at a rate of 1,042,000; this is 2.8% above the revised January rate of 1,014,000. The February rate for units in buildings with five units or more was 314,000.


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Original Source:
MONTHLY NEW RESIDENTIAL CONSTRUCTION, FEBRUARY 2021