National residential construction in March 2015; small increase compared to 3/14

(301) 763-5160
NEW RESIDENTIAL CONSTRUCTION IN MARCH 2015
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for March 2015:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 1,039,000. This is 5.7 percent (±2.0%) below the revised February rate of 1,102,000, but is 2.9 percent (±0.9%) above the March 2014 estimate of 1,010,000.
Single-family authorizations in March were at a rate of 636,000; this is 2.1 percent (±0.9%) above the revised February figure of 623,000. Authorizations of units in buildings with five units or more were at a rate of 378,000 in March.
HOUSING STARTS
Privately-owned housing starts in March were at a seasonally adjusted annual rate of 926,000. This is 2.0 percent (±13.0%)* above the revised February estimate of 908,000, but is 2.5 percent (±11.5%)* below the March 2014 rate of 950,000.
Single-family housing starts in March were at a rate of 618,000; this is 4.4 percent (±12.3%)* above the revised February figure of 592,000. The March rate for units in buildings with five units or more was 287,000.
HOUSING COMPLETIONS
Privately-owned housing completions in March were at a seasonally adjusted annual rate of 823,000. This is 3.9 percent (±10.4%)* below the revised February estimate of 856,000 and is 5.8 percent (±10.2%)* below the March 2014 rate of 874,000.
Single-