Thursday, April 16, 2015

Housing Starts Rose in March

Housing starts in March rose to a seasonally adjusted annual rate of 926,000, 2% above the revised February estimate of 908,000 but 2.5% below the March 2014 estimate. Single family housing starts were at a rate of 618,000, 4.4% higher than the revised February estimate.

Housing starts were mixed across the four regions. In the Northeast housing starts increased by nearly 115%, as February starts were unusually low due to extreme weather conditions. The Midwest posted gains of 31.3% on the month, while the South and West regions posted declines of 3.5% and 19.3%.

Building permits were issued at a seasonally adjusted annual rate of 1.039 million units, a 5.7% decrease from last month’s revised rate of 1.102 million, but 2.9% higher than the March 2014 estimate. Housing completions were at a seasonally adjusted annual rate of 823,000, 3.9% below February’s revised estimate, and 5.8% below the March 2014 rate.

Read the Census release

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