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Feb 2000-Feb 2010: Blue; Single family units - - Red; Two or more units e.g. apartment building
US data issued today shows that housing starts and permits to build new homes both fell in February, which has been attributed to severe weather.
The US Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for February 2010:
Building Permits: Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 612,000. This is 1.6% below the revised January rate of 622,000, but is 11.3% above the February 2009 estimate of 550,000. Single-family authorizations in February were at a rate of 503,000; this is 0.2% below the revised January figure of 504,000. Authorizations of units in building with five units or more were at a rate of 89,000 in February.
Housing Starts: Privately-owned housing starts in February were at a seasonally adjusted annual rate of 575,000. This is 5.9% below the revised January estimate of 611,000, but is 0.2% above the February 2009 rate of 574,000. Single-family housing starts in February were at a rate of 499,000; this is 0.6% below the revised January figure of 502,000. The February rate for units in buildings with five units or more was 58,000.
Housing Completions: Privately-owned housing completions in February were at a seasonally adjusted annual rate of 700,000. This is 5.4% above the revised January estimate of 664,000, but is 15.5% below the February 2009 rate of 828,000. Single-family housing completions in February were at a rate of 458,000; this is 4.3% above the revised January rate of 439,000. The February rate for units in buildings with five units or more was 236,000.
