Single-family housing starts in March were at a rate of 619,000, which is 4.8% below the revised February figure of 650,000, according to new data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. However, privately owned housing starts in March were at a seasonally adjusted annual rate of 1,036,000, which is 7% above the revised February estimate of 968,000 and 46.7% above the March 2012 rate of 706,000.
Single-family authorizations in March were at a rate of 595,000; this is 0.5% below the revised February figure of 598,000. Privately owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 902,000. This is 3.9% below the revised February rate of 939,000 but is 17.3% above the March 2012 estimate of 769,000.
Single-family housing completions in March were at a rate of 593,000; this is 2.6% above the revised February rate of 578,000. Privately owned housing completions in March were at a seasonally adjusted annual rate of 800,000, which is 11% above the revised February estimate of 721,000 and is 36.3% above the March 2012 rate of 587,000.