Housing Starts Rose 9.8% in February

March 16, 2023 from Floor Focus FloorDaily News

Washington, DC, March 16, 2023 – Privately‐owned housing starts in February were at a seasonally adjusted annual rate of 1,450,000, 9.8% above the revised January estimate of 1,321,000 but 18.4% below the February 2022 rate of 1,777,000, according to the U.S. Census Bureau.

Single‐family housing starts in February were at a rate of 830,000; this is 1.1% above the revised January figure of 821,000. The February rate for units in buildings with five units or more was 608,000.

Privately‐owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,524,000. This is 13.8% above the revised January rate of 1,339,000 but is 17.9% below the February 2022 rate of 1,857,000. Single‐family authorizations in February were at a rate of 777,000; this is 7.6% above the revised January figure of 722,000. Authorizations of units in buildings with five units or more were at a rate of 700,000 in February.

Privately‐owned housing completions in February were at a seasonally adjusted annual rate of 1,557,000. This is 12.2% above the revised January estimate of 1,388,000 and is 12.8% above the February 2022 rate of 1,380,000. Single‐family housing completions in February were at a rate of 1,037,000; this is 1.0% above the revised January rate of 1,027,000. The February rate for units in buildings with five units or more was 509,000.