National new home construction metrics; February 2021

MONTHLY NEW RESIDENTIAL CONSTRUCTION, FEBRUARY 2021
Release Number: CB21-41
March 17, 2021 – 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 2021:
NEW RESIDENTIALCONSTRUCTION
FEBRUARY 2021
Building Permits: 1,682,000
Housing Starts: 1,421,000
Housing Completions: 1,362,000
Next Release: April 16, 2021
Seasonally Adjusted Annual Rate (SAAR)
Source: U.S. Census Bureau, HUD, March 17, 2021
Building Permits
Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,682,000. This is 10.8 percent (±1.0 percent) below the revised January rate of 1,886,000, but is 17.0 percent (±1.4 percent) above the February 2020 rate of 1,438,000. Single-family authorizations in February were at a rate of 1,143,000; this is 10.0 percent (±0.8 percent) below the revised January figure of 1,270,000. Authorizations of units
in buildings with five units or more were at a rate of 495,000 in February.
Housing Starts
Privately-owned housing starts in February were at a seasonally adjusted annual rate of 1,421,000. This is 10.3 percent (±10.5 percent)* below the revised January estimate of 1,584,000 and is 9.3 percent (±9.4 percent)* below the February 2020 rate of 1,567,000. Single-family housing starts in February were at a rate of 1,040,000; this is 8.5 percent (±9.3 percent)* below the revised January figure of 1,136,000. The February rate for units in buildings with
five units or more was 372,000.
Housing Completions
Privately-owned housing completions in February were at a seasonally adjusted annual rate of 1,362,000. This is 2.9 percent (±10.0 percent)* above the revised January estimate of 1,324,000 and is 5.0 percent (±11.9 percent)* above the February 2020 rate of 1,297,000. Single-family housing completions in February were at a rate of 1,042,000; this is 2.8 percent (±10.5 percent)* above the revised January rate of 1,014,000. The February rate for units in buildings
with five units or more was 314,000.
Source: U.S. Census Bureau, HUD, March 17, 2021
Data Inquiries Media Inquiries
Economic Indicators Division, Residential Construction Branch Public Information Office
301-763-5160 301-763-3030
eid.rcb.customer.service@census.gov pio@census.gov
The March report is scheduled for release on April 16, 2021.

About TARR Report

S.M.A. Publications was formed in 1997 with a mission of providing real estate information for practitioners within the Research Triangle Park area of North Carolina. The company produces the T.A.R.R. Reports which are published monthly, quarterly and annually, covering all aspects of the residential real estate market. The publisher, Stacey P. Anfindsen, has over 23 years of residential experience in the Triangle market. He is an active real estate appraiser, educator and consultant.
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