Housing Starts Up 22.3% Year-Over-Year

The U.S. government is reporting that privately‐owned housing starts in February were at a seasonally adjusted annual rate of 1,769,000, which is 6.8% higher than January’s revised number and 22.3% higher than one year ago. February’s rate for units in buildings with five units or more was 501k. Privately‐owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,895,000, which is 7.7% higher than January’s revised number. Authorizations of units in buildings with five units or more were at a rate of 597k in December. Continue reading HERE...