Single-Family Housing Starts & Permits Rise in February

The U.S. Census Bureau has reported that privately‐owned housing starts in February were at a seasonally adjusted annual rate of 1,599,000. This is 1.5% below the revised January estimate of 1,624,000, but is 39.2% above the February 2019 rate of 1,149,000. Single‐family housing starts in February were at a rate of 1,072,000; this is 6.7% above the revised January figure of 1,005,000. Permits are the forward-looking part of the report and privately‐owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,464,000. This is 5.5% below the revised January rate of 1,550,000, but is 13.8% above the February 2019 rate of 1,287,000.  Single‐family authorizations in February were at a rate of 1,004,000; this is 1.7% above the revised January figure of 987,000