U.S.: Building Permits up 6.9%

The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the  following new residentialconstruction statistics for February 2014:  

BUILDING PERMITS

Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,018,000. This is 7.7 percent (±1.0%) above the revised January rate of 945, 000 and is 6.9 percent (±1.2%) above the February 2013 estimate of 952,000. Single-family authorizations in February were at a rate of 588,000; this is 1.8 percent (±0.9%) below the   revised January figure of 599,000. Authorizations of units in buildings with five units or more were at a rate of 407,000 in February.  

HOUSING STARTS

Privately-owned housing starts in February were at a seasonally adjusted annual rate of 907,000. This is 0.2 percent (±12.1%)* below the revised January estimate of 909,000 and is 6.4 percent (±9.9%)* below the February 2013 rate of 969,000. Single-family housing starts in February were at a rate of 583,000; this is 0.3 percent (±12.0%)* above the  revised January figure of 581,000. The February rate for units in buildings with five units or more was  312,000.  

HOUSING COMPLETIONS

Privately-owned housing completions in February were at a seasonally adjusted annual rate of 886,000. This is 4.4 percent (±9.5%)* above the revised January estimate of 849,000 and is 21.9 percent (±13.9%) above the February 2013 rate of 727,000. Single-family housing completions in February were at a rate of 631,000; this is 4.0 percent (±9.7%)* above  the revised January rate of 607,000. The February rate for units in buildings with five units or more was 246,000.