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March Single-Family Housing Starts Get Hammered with -17.5% Decline

April 16, 2020
It's not surprising that housing is having a tough time right now.

Housing starts in March were at a seasonally adjusted annual rate of 1,216,000, -22.3% below the revised February estimate of 1,564,000, and + 1.4% above the March 2019 rate of 1,199,000. According to the U.S. Census Bureau, single-family housing starts in March were at a rate of 856,000, -17.5% below the revised February figure of 1,037,000.

Building permits. Privately-owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 1,353,000, -6.8% below the revised February rate of 1,452,000, but +5% above the March 2019 rate of 1,288,000. Single-family authorizations in March were at a rate of 884,000, -12% below the revised February figure of 1,005,000.

If you would like to take a look at the year-end housing construction data, take a look at the map below: