Housing Starts Rose 10.7% in February

Washington, DC, March 19, 2024- Privately‐owned housing starts in February were at a seasonally adjusted annual rate of 1,521,000, 10.7% above the revised January estimate of 1,374,000 and 5.9% above the February 2023 rate of 1,436,000, according to the U.S. Census Bureau. Single‐family housing starts in February were at a rate of 1,129,000; this is 11.6% above the revised January figure of 1,012,000. The February rate for units in buildings with five units or more was 377,000.

Privately‐owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,518,000. This is 1.9% above the revised January rate of 1,489,000 and is 2.4% above the February 2023 rate of 1,482,000. Single‐family authorizations in February were at a rate of 1,031,000; this is 1.0% above the revised January figure of 1,021,000. Authorizations of units in buildings with five units or more were at a rate of 429,000 in February.

Privately‐owned housing completions in February were at a seasonally adjusted annual rate of 1,729,000. This is 19.7% above the revised January estimate of 1,445,000 and is 9.6% above the February 2023 rate of 1,577,000. Single‐family housing completions in February were at a rate of 1,072,000; this is 20.2% above the revised January rate of 892,000. The February rate for units in buildings with five units or more was 644,000.