Overall housing starts in March declined 11.9 percent to a seasonally adjusted annual rate of 947,000, according to new estimates released this week by the U.S. Census Bureau and the Department of Housing and Urban Development. Single family starts fared slightly better, with a decline of 5.7 percent.
Building Permits
Building permits for privately owned housing, fell 5.8 percent during the same period, to a seasonally adjusted annual rate of 927,000. Single-family authorizations in March were at a rate of 606,000; this is 6.2 percent below the February figure of 646,000.
Housing Completions
Privately-owned housing completions in March were at a seasonally adjusted annual rate of 1,216,000. This is 2.7 percent below the revised February estimate of 1,250,000. Single-family housing completions in March were at a rate of 944,000; this is 3.3 percent above the February figure of 914,000.
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