New residential construction statistics demonstrated positive gains across the board, according to the February 2013 report released Tuesday by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development (HUD).
Privately-owned housing units authorized by building permits were at a seasonally adjusted annual rate of 946,000 for February, up 4.6 percent from the revised January rate and up a healthy 33.8 percent compared to the February 2012 estimate.
Single-family authorizations came in at a rate of 600,000 in February, which is 2.7 percent above the revised January figure.
Privately-owned housing starts were at a seasonally adjusted annual rate of 917,000 in February. That total represents a 0.8 percent increase compared to the revised January estimate, and a 27.7 percent increase when compared to February 2012.
Privately owned housing completions were at a seasonally adjusted annual rate of 711,000 in February. While that is 0.6 percent below the revised January estimate, it is 24.3 percent above the February 2012 rate.
But single-family housing completions were at a rate of 574,000 in February, up 3.6 percent from the revised January rate.
To review the complete HUD report, go to www.census.gov/construction/nrc/pdf/newresconst.pdf.