{"id":6293,"date":"2022-03-17T15:07:07","date_gmt":"2022-03-17T20:07:07","guid":{"rendered":"https:\/\/nwfl4sale.com\/feb-new-housing-starts-surpass-expectations\/"},"modified":"2022-03-17T15:07:07","modified_gmt":"2022-03-17T20:07:07","slug":"feb-new-housing-starts-surpass-expectations","status":"publish","type":"post","link":"https:\/\/nwfl4sale.com\/feb-new-housing-starts-surpass-expectations\/","title":{"rendered":"Feb. New-Housing Starts Surpass Expectations"},"content":{"rendered":"
<\/p>\n
A disappointing dip in Jan. new-home starts was followed by a surprise surge in Feb. Economists expected about 3.2% growth but starts rose by 6.8%.<\/span><\/span><\/p>\n<\/div>\n WASHINGTON \u2013 An unexpected drop in January new-housing starts was followed by an equally unexpected increase in February.<\/span><\/span><\/p>\n According to the Commerce Department\u2019s monthly report, housing starts surged 6.8% last month. The surge follows a 5.5% drop in January. Economists generally predicted only a 3.2% increase before the numbers came out.<\/span><\/span><\/p>\n In addition, building permits \u2013 a sign of future activity \u2013 were down slightly month-to-month by 1.9%, but they were 7.7% higher year-to-year.<\/span><\/span><\/p>\n Privately\u2010owned housing starts in February were at a seasonally adjusted annual rate of 1,769,000, 6.8% above the revised January estimate of 1,657,000 and 22.3% above the February 2021 rate of 1,447,000.<\/span><\/span><\/p>\n February\u2019s single\u2010family housing starts were at a rate of 1,215,000 \u2013 5.7% above the revised January figure of 1,150,000. The February rate for units in buildings with five units or more was 501,000.<\/span><\/span><\/p>\n Privately\u2010owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,859,000 \u2013 1.9% below the revised January rate of 1,895,000, but 7.7% above the February 2021 rate of 1,726,000.<\/span><\/span><\/p>\n Single\u2010family authorizations in February were at a rate of 1,207,000 \u2013 0.5% below the revised January figure of 1,213,000. Authorizations of units in buildings with five units or more were at a rate of 597,000 in February.<\/span><\/span><\/p>\n February\u2019s privately\u2010owned housing completions were at a seasonally adjusted annual rate of 1,309,000 \u2013 5.9% above the revised January estimate of 1,236,000 but 2.8% below the February 2021 rate of 1,347,000.<\/span><\/span><\/p>\nMonthly New Residential Construction, February 2022<\/span><\/span><\/h3>\n
Housing starts<\/span><\/span><\/h3>\n
Building permits<\/span><\/span><\/h3>\n
Housing completions<\/span><\/span><\/h3>\n