Housing Starts Up 7.2 Percent in March

Privately-owned housing starts in March were at a seasonally adjusted annual rate of 549,000, 7.2 percent above the revised February estimate of 512,000, but 13.4 percent below the March 2010 rate of 634,000, according to the Department of Commerce. Single-family housing starts in March were at a rate of 422,000, 7.7 percent above the revised February figure of 392,000. The March rate for units in buildings with five units or more was 117,000.

Privately-owned housing completions in March were at a seasonally adjusted annual rate of 509,000, 14.2 percent below the revised February estimate of 593,000 and 20.8 percent below the March 2010 rate of 643,000. Single-family housing completions in March were at a rate of 374,000, 22.2 percent below the revised February rate of 481,000.

New Privately Owned Housing Units Started

(Thousands of units, seasonally adjusted annual rate)

Period Total 1 Unit 5 Units or more Northeast Midwest South West March, 2010 634 535 91 66 93 339 136 November, 2010 548 455 79 77 109 265 97 December, 2010 522 419 95 57 66 266 133 January, 2011 ₂ 628 430 186 92 113 305 118 February, 2011 ₂ 512 392 102 56 62 307 87 March, 2011 ₁ 549 422 117 59 82 297 111

1-Preliminary; 2-Revised; Note: Detail may not add to total because of rounding.

Source: U.S. Bureau of the Census