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.