Housing Starts Up 3% in February

Real Estate Investing Today - Brad Beckett - 16 March 2017

The U.S. Government is reporting that housing starts in February were at a seasonally adjusted annual rate of 1,288,000.  This is 3% above January’s estimate and is 6.2% higher than one year ago.  Single-family housing starts were at a rate of 872k, which is 6.5% higher than January ‘s number. February’s rate for units in buildings with five units or more was 396k.  Building permits for privately owned housing came in at 1.2 million, which is 6.2% lower than January’s number, but is 4.4% higher than one year ago.  Single-family authorizations in February were at a rate of 832k, which is 3.1%  higher than January.  Authorizations of units in buildings with five units or more were at a rate of 334,000 in February.