The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for February 2018
GOOD READ
https://www.census.gov/construction/nrc/pdf/newresconst.pdf
FOR RELEASE AT 8:30 AM EDT, FRIDAY, MARCH 16, 2018 MONTHLY NEW RESIDENTIAL CONSTRUCTION, FEBRUARY 2018 Release Number: CB18-38 March 16, 2018 – The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for February 2018: NEW RESIDENTIAL CONSTRUCTION FEBRUARY 2018 Building Permits: 1,298,000 Housing Starts: 1,236,000 Housing Completions: 1,319,000 Next Release: April 17, 2018 Seasonally Adjusted Annual Rate Source: U.S. Census Bureau, HUD, March 16, 2018 Building Permits Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,298,000. This is 5.7 percent (±0.7 percent) below the revised January rate of 1,377,000, but is 6.5 percent (±2.4 percent) above the February 2017 rate of 1,219,000. Single-family authorizations in February were at a rate of 872,000; this is 0.6 percent (±0.9 percent)* below the revised January figure of 877,000. Authorizations of units in buildings with five units or more were at a rate of 385,000 in February. Housing Starts Privately-owned housing starts in February were at a seasonally adjusted annual rate of 1,236,000. This is 7.0 percent (±16.7 percent)* below the revised January estimate of 1,329,000 and is 4.0 percent (±12.2 percent)* below the February 2017 rate of 1,288,000. Single-family housing starts in February were at a rate of 902,000; this is 2.9 percent (±10.8 percent)* above the revised January figure of 877,000. The February rate for units in buildings with five units or more was 317,000. Housing Completions Privately-owned housing completions in February were at a seasonally adjusted annual rate of 1,319,000. This is 7.8 percent (±14.8 percent)* above the revised January estimate of 1,224,000 and is 13.6 percent (±16.0 percent)* above the February 2017 rate of 1,161,000. Single-family housing completions in February were at a rate of 895,000; this is 3.0 percent (±10.6 percent)* above the revised January rate of 869,000. The February rate for units in buildings with five units or more was 418,000. 0 300 600 900 1,200 1,500 Feb-13 Feb-14 Feb-15 Feb-16 Feb-17 Feb-18 Thousands of Units New Residential Construction (Seasonally Adjusted Annual Rate) Permits Starts Completions Source: U.S. Census Bureau, HUD, March 16, 2018 Data Inquiries Media Inquiries Economic Indicators Division, Residential Construction Branch Public Information Office 301‐763‐5160 301‐763‐3030 eid.rcb@census.gov pio@census.gov The March report is scheduled for release on April 17, 2018. View the full schedule in the Economic Briefing Room: . The full text and tables for this release can be found at . NOTICE With the April 2018 release, seasonally adjusted estimates of housing units authorized by building permits will be revised back to January 2012, and seasonally adjusted estimates of housing units authorized but not started, started, under construction, and completed will be revised back to January 2013. With each April release, seasonally adjusted data will now be revised for an additional five years beyond the revision period for unadjusted data. Research has shown that this revision span should produce more reliable seasonally adjusted time series. EXPLANATORY NOTES In interpreting changes in the statistics in this release, note that month-to-month changes in seasonally adjusted statistics often show movements which may be irregular. It may take three months to establish an underlying trend for building permit authorizations, six months for total starts, and five months for total completions. The statistics in this release are estimated from sample surveys and are subject to sampling variability as well as nonsampling error including bias and variance from response, nonreporting, and undercoverage. Estimated relative standard errors of the most recent data are shown in the tables. Whenever a statement such as “2.5 percent (±3.2 percent) above” appears in the text, this indicates the range (-0.7 to +5.7 percent) in which the actual percentage change is likely to have occurred. All ranges given for percentage changes are 90 percent confidence intervals and account only for sampling variability. If a range does not contain zero, the change is statistically significant. If it does contain zero, the change is not statistically significant; that is, it is uncertain whether there was an increase or decrease. The same policies apply to the confidence intervals for percentage changes shown in the tables. On average, the preliminary seasonally adjusted estimates of total building permits, housing starts and housing completions are revised 2.1 percent or less. Explanations of confidence intervals and sampling variability can be found on our website