New Residential Construction Statistics for February 2015

March 17, 2015

Construction Law


The U.S. Census Bureau and the Department of Housing and Urban Development have recently announced new residential construction statistics for February 2015.  According to the data, building permits for privately-owned housing units in February were at a seasonally adjusted annual rate of 1,092,000, up 3.0 percent from the revised January rate of 1,060,000.  Compared to a year ago, the rate was 7.7 percent above the February 2014 rate of 1,014,000.  Building permits for single-family housing in February were estimated at 620,000, down 6.2 percent from the revised January rate of 661,000.  Building permits for units in buildings with five units or more in February were at a rate of 445,000.

In February, privately-owned housing starts were at an adjusted rate of 897,000, down 17.0 percent from January’s revised estimate of 1,081,000 and down 3.3 percent from the February 2014 rate of 928,000.  Single-family housing starts were at a rate of 593,000 in February, down 14.9 percent from the revised January rate of 697,000.  For units in buildings with five units or more, the February rate was 297,000.

As for housing completions, the February rate for privately-owned housing was at a seasonally adjusted annual estimate of 850,000, down 13.8 percent from January’s revised rate of 986,000 and down 1.8 percent from the February 2014 estimate of 866,000. Single-family housing completions were at a rate of 595,000 for February, putting it 12.1 percent below January’s revised rate of 677,000. The housing completion rate for units in buildings with five units or more was at 236,000 in February.

For more information, click here to read the full U.S. Census Bureau/U.S. Department of Housing & Urban Development Press Release.