Housing Starts & Building Permits Down Sharply in February – Real Estate Investing Today
The U.S. government is reporting that privately‐owned housing starts in February were at a seasonally adjusted annual rate of 1,421,000, which is 10.3% below January’s revised number. February’s rate for units in buildings with five units or more was 372k. Privately‐owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 1,682,000, which was 10.8% higher than January’s revised number. Authorizations of units in buildings with five units or more were at a rate of 495k in January.