Housing starts rose 22.2% last month to a seasonally adjusted annual rate of 583,000, the Commerce Department reported today.
February's figures represent a 47.3% decline since February 2008. In January, housing starts fell 16.5%.
Single-family housing starts were 1.1% below the January level. Single family housing completions fell 8.2%, compared with a 17.5% decline in January.
Building permits for private housing increased 3% in February but were 44.2% down from February 2008.
The Northeast, Midwest and South had month-to-month increases of 88.6%, 58.5%, and 30.2%, respectively. The West saw a month-to-month decline of 24.6%
Year-to-year housing starts declined in all regions. Housing starts fell 59.1% in the South, 48.8% in the Northeast, 45.5% in the Midwest, and 42.5% in the South.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
