Housing Starts in U.S. Remain Flat in February

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Today the U.S. Census Bureau and the Department of Housing and Urban Development announced the following new residential construction statistics for February 2014:
 
Building Permits
 
Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,018,000. This is 7.7 percent (±1.0%) above the revised January rate of 945,000 and is 6.9 percent (±1.2%) above the February 2013 estimate of 952,000.
 
Single-family authorizations in February were at a rate of 588,000; this is 1.8 percent (±0.9%) below the revised January figure of 599,000. Authorizations of units in buildings with five units or more were at a rate of 407,000 in February.
 
Housing Starts
 
Privately-owned housing starts in February were at a seasonally adjusted annual rate of 907,000. This is 0.2 percent (±12.1%) below the revised January estimate of 909,000 and is 6.4 percent (±9.9%) below the February 2013 rate of 969,000.
 
Single-family housing starts in February were at a rate of 583,000; this is 0.3 percent (±12.0%) above the revised January figure of 581,000. The February rate for units in buildings with five units or more was 312,000.
 
Housing Completions
 
Privately-owned housing completions in February were at a seasonally adjusted annual rate of 886,000. This is 4.4 percent (±9.5%) above the revised January estimate of 849,000 and is 21.9 percent (±13.9%) above the February 2013 rate of 727,000.