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March 17, 2021US HOUSING STARTS AND BUILDING PERMITS, FEBRUARY 2021 The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced today the new residential construction statistics for February 2021.
BUILDING PERMITS
US residential building permits decreased 10.8% from the revised January estimate of 1,1886,000 permits to a seasonally adjusted rate of 1,682,000 permits in February 2021. This was 17.0% above the February 2020 estimate of 1,438,000 units.
Compared to February 2020, permits increased for single unit (+15.0%) and 5 or more unit buildings (+24.1%) but declined for buildings with 2 to 4 units (-2.2%).
HOUSING STARTS
In February 2021, US housing starts declined 10.3% compared to the revised January estimate, to a seasonally adjusted annualized rate of 1,421,000 units. This was 9.3% below the February 2020 rate of 1,567,000 units.
Year-over-year (Feb 2021 vs Feb 2020), housing starts for single units were up 0.6% while starts for structures with 5 or more units decreased 27.6%.
Source:
US Census Bureau New Residential Construction
US Census Bureau - retrieved from FRED, Federal Reserve Bank of St. Louis. Monthly data
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