Raemeka Mayo or Stephen Cooper Economic Indicators Division (01) 76-5160 FOR IMMEDIATE RELEASE TUESDAY, MARCH 17, 015 AT 8:0 A.M. EDT NEW RESIDENTIAL CONSTRUCTION IN FEBRUARY 015 The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for February 015: BUILDING PERMITS CB15-4 Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,09,000. This is.0 percent (±1.7%) above the revised January rate of 1,060,000 and is 7.7 percent (±.0%) above the February 014 estimate of 1,014,000. Single-family authorizations in February were at a rate of 60,000; this is 6. percent (±0.9%) below the revised January figure of 661,000. Authorizations of units in buildings with five units or more were at a rate of 445,000 in February. HOUSING STARTS U.S. Census Bureau News Joint Release U.S. Department of Housing and Urban Development Privately-owned housing starts in February were at a seasonally adjusted annual rate of 897,000. This is 17.0 percent (±9.5%) below the revised January estimate of 1,081,000 and is. percent (±1.5%)* below the February 014 rate of 98,000. Single-family housing starts in February were at a rate of 59,000; this is 14.9 percent (±10.0%) below the revised January figure of 697,000. The February rate for units in buildings with five units or more was 97,000. HOUSING COMPLETIONS U.S. Department of Commerce Washington, D.C. 0 Privately-owned housing completions in February were at a seasonally adjusted annual rate of 850,000. This is 1.8 percent (±9.0%) below the revised January estimate of 986,000 and is 1.8 percent (±11.7%)* below the February 014 rate of 866,000. Single-family housing completions in February were at a rate of 595,000; this is 1.1 percent (±10.0%) below the revised January rate of 677,000. The February rate for units in buildings with five units or more was 6,000. New Residential Construction data for March 015 will be released on Thursday, April 16, 015, at 8:0 A.M. EDT. Our Internet site is: http://www.census.gov/starts Beginning with the release of April 015 data on May 19, 015, estimates of housing units authorized, but not started, will be available on a seasonally adjusted basis as well as a not seasonally adjusted basis. Historic seasonally adjusted data will be available back to January 1999 at http://www.census.gov/construction/nrc/historical_data/. To receive the latest updates on the Nation's key economic indicators, download the America's Economy app for Apple and Android smartphones and tablets. EXPLANATORY NOTES In interpreting changes in the statistics in this release, note that month-to-month changes in seasonally adjusted statistics often show movements which may be irregular. It may take months to establish an underlying trend for building permit authorizations, 4 months for total starts, and 6 months for total completions. The statistics in this release are estimated from sample surveys and are subject to sampling variability as well as nonsampling error including bias and variance from response, nonreporting, and undercoverage. Estimated relative standard errors of the most recent data are shown in the tables. Whenever a statement such as.5 percent (±.%) above appears in the text, this indicates the range (-0.7 to +5.7 percent) in which the actual percent change is likely to have occurred. All ranges given for percent changes are 90-percent confidence intervals and account only for sampling variability. If a range does not contain zero, the change is statistically significant. If it does contain zero, the change is not statistically significant; that is, it is uncertain whether there was an increase or decrease. The same policies apply to the confidence intervals for percent changes shown in the tables. On average, the preliminary seasonally adjusted estimates of total building permits, housing starts and housing completions are revised three percent or less. Explanations of confidence intervals and sampling variability can be found on our web site listed above. * 90% confidence interval includes zero. The Census Bureau does not have sufficient statistical evidence to conclude that the actual change is different from zero.
Table 1. New Privately-Owned Housing Units Authorized in Permit-Issuing Places Seasonally adjusted annual rate 014: February 1,014 60 4 87 107 49 17 9 51 0 9 1 March 1,010 611 7 7 15 5 161 95 471 4 4 19 April 1,088 61 7 449 115 50 16 95 54 40 67 17 May 1,00 617 0 55 114 51 16 100 498 4 7 1 June 99 69 8 15 110 49 190 111 471 4 1 145 July 1,07 6 8 77 117 48 169 101 511 49 40 14 August 1,0 64 6 5 115 51 164 107 57 50 16 16 September 1,09 641 7 71 17 56 164 100 51 57 5 18 October 1,10 64 4 45 11 5 154 10 55 57 84 1 November 1,060 654 9 77 1 58 140 96 501 57 86 14 December 1,060 675 5 60 95 50 16 101 565 74 8 150 015: January (r) 1,060 661 8 71 11 49 148 10 519 68 7 14 February (p) 1,09 60 7 445 100 4 157 90 557 46 78 150 Average RSE (%) 1 6 6 5 4 1 February 015 from January 015.0% -6.% -.6% 19.9% -17.4% -0.6% 6.1% -11.8% 7.% -6.0%.% 5.6% 90% Confidence Interval ± 1.7 ± 0.9 ± 4.5 ± 4.1 ± 10.5 ±.1 ± 10.9 ± 4.7 ±.7 ± 0.5 ±.7 ±.7 February 015 from February 014 7.7%.8% 1.5% 15.0% -6.5% -0.6% 14.6% -.% 4.9% 4.8% 16.% 1.6% 90% Confidence Interval ±.0 ± 1.0 ± 9.9 ± 5.6 ± 1. ± 4.7 ±.8 ±.8 ±.6 ± 1.0 ±.8 ±. 01: 990.8 60.8 9.0 41.1 107.1 5.6 156.8 101.8 49. 0.0.7 16. 014: 1,08.5 60. 7.5 80.7 115.1 50.9 165.5 10.6 515. 9.5 4.8 17. RSE (%) (Z) 1 (Z) 1 (Z) (Z) 1 1 014: Year to Date 15.0 81.. 50.4 1. 5.8 14.1 8.9 77.5 48.1 1. 18.4 015: Year to Date 146.8 86.8.6 56.4 1.0 4.8 14.5 9.1 80.9 5.1 8. 19.7 RSE (%) 1 8 4 1 Year to Date Percent Change 4 8.7% 6.8% 9.1% 11.9% 6.6% -17.%.8%.% 4.4% 10.4%.8% 7.1% 90% Confidence Interval ± 1.4 ± 1. ± 14.7 ±.8 ± 7.4 ± 4. ± 5. ± 6.0 ± 1.7 ± 1. ±. ± 1.7 014: February 70.6 41.9 1.6 7.0 6.1.8 6.6 4.7 40.4 5. 17.5 9.1 March 84.5 5..1 0. 10. 4. 1.5 7.5 41.0 9.6 0.8 11.0 April 97.1 59.0. 5.8 9.9 4.8 15.5 9.7 48.1.4.6 1.1 May 9.0 59..6 0. 10. 5.0 16.0 10.4 44.7 1.1 1.1 1.8 June 94.0 61.4.7 9.0 1.0 4.8 18.7 11. 4. 0.8 1.1 14.6 July 95.4 60.1.6.7 11. 4.7 16.7 10. 45.4..1 1.0 August 88.7 55.4. 0.1 9.9 4.4 15.4 10. 45.0 0.1 18.4 10.7 September 91.1 55.0.5.6 11.6 5. 16. 9.6 4.5 9.4 19.8 10.7 October 96.9 56.0. 7.7 9.8 4.9 15.9 10. 47. 9.7.9 11.1 November 71.8 4.1.0 7.7 9.8 4. 9.9 6.4.1.7 19.0 8.8 December 8.6 46.5.1 5.0 8.0.6 10.8 5.8 44.7 6.5 0.1 10.6 015: January (r) 70.0 4.5 1.7 4.8 7.5.9 6.7 4.6 8.1 6.7 17.7 9.4 February (p) 76.8 4. 1.9 1.6 5.5 1.9 7.8 4.6 4.8 6.5 0.7 10.4 Average RSE (%) 1 7 5 5 5 1 Reflects revisions not distributed to months. 4
Table. New Privately-Owned Housing Units Authorized, but Not Started, at End of 014: February 108. 55.1 1.9 51. 10.4 6.0 1.8 8.7 64.0 0. 0.0 10.1 March 11.9 56.6 1.7 54.7 11. 5.9 15.5 8.8 6.7 1.5.6 10. April 114. 56.4 1.6 56. 10. 6.1 14.1 8. 67..4.8 8.6 May 111.1 56.7 1.4 5.0 10.6 5.9 1.7 8. 61.6. 5. 10. June 114. 59.9 1.4 5.9 1.8 6.0 1.0 7.7 65.8 5..6 11.0 July 11.5 60.0.4 50.0 1.8 6. 1.4 7.5 65.4 6.5 0.8 9.8 August 111.6 57.9 1.9 51.8 1.0 5.7 1.6 7.6 6.5 4.9.4 9.6 September 11.7 58.1 1.6 5.9 1.0 5.9 15.1 6.9 6.4 5.5. 9.8 October 10.0 58.8. 59.0 11. 5.8 17.4 8.1 6.4 4.6 8.0 10.4 November 11.5 55..5 55.7 11.7 5.6 1.8 6.6 6.. 5.9 9.8 December (r) 116. 56.1 1.9 58. 11.5 6.0 1.7 6.0 66..6 4.7 10.5 015: January (r) 11. 56..1 55.0 1. 6.0 1.8 6. 65.5.7.9 10.4 February (p) 1.5 58.. 6.9 1.5 6.5 1.8 7.0 70.5 4.6 5.7 10. Average RSE (%) 1 7 6 1 1 15 1 10 8 8 14 1 February 015 from January 015 8.9%.7% 10.% 14.% 10.9% 7.5% 8.0% 1.6% 7.6%.7% 1.1% -1.0% 90% Confidence Interval ±.7 ± 5.0 ± 1.4 ± 7.0 ± 4.9 ± 7.4 ± 10.1 ± 9. ± 5.5 ± 7.6 ± 1.5 ± 9. February 015 from February 014 14.1% 5.9% 17.1%.9% 0.7% 8.% -0.% -19.5% 10.0% 14.% 8.4% 1.% 90% Confidence Interval ± 8.8 ± 8. ± 51.6 ± 18. ± 9.9 ± 0.7 ± 19.6 ± 14.1 ± 11.1 ± 14. ± 1.8 ± 19.9 Z Relative standard error is less than 0.5 percent. Note: These data represent the number of housing units authorized in all months up to and including the last day of the reporting period and not started as of that date without regard to the months of original permit issuance. Cancelled, abandoned, expired, and revoked permits are excluded.
Table. New Privately-Owned Housing Units Started Seasonally adjusted annual rate 014: February 98 589 (S) 8 87 7 1 80 50 7 17 15 March 950 65 (S) 01 14 50 14 107 478 40 05 18 April 1,06 649 (S) 405 14 50 195 111 494 8 50 160 May 984 64 (S) 41 88 5 164 104 541 5 191 16 June 909 59 (S) 94 95 50 196 11 9 90 6 140 July 1,098 65 (S) 40 140 47 16 108 58 51 67 146 August 96 641 (S) 05 109 56 177 95 475 5 0 17 September 1,08 66 (S) 5 109 54 17 10 50 4 4 146 October 1,09 716 (S) 59 99 54 165 104 606 99 159 November 1,015 674 (S) 110 57 175 11 454 60 76 145 December (r) 1,081 75 (S) 6 11 5 170 19 499 80 99 164 015: January (r) 1,081 697 (S) 79 108 56 154 10 57 75 9 164 February (p) 897 59 (S) 97 47 97 69 514 5 9 149 Average RSE (%) 1 5 5 (X) 1 19 15 14 10 7 6 9 9 February 015 from January 015-17.0% -14.9% (S) -1.6% -56.5% -60.7% -7.0% -.4% -.5% -5.9% -18.% -9.1% 90% Confidence Interval ± 9.5 ± 10.0 (X) ± 1.0 ± 18.7 ± 1. ± 5.0 ± 16.7 ± 1.8 ± 1. ± 0.9 ± 17. February 015 from February 014 -.% 0.7% (S) -9.5% -46.0% -40.5% -0.5% -1.8%.4% 4.7% 10.1% 10.4% 90% Confidence Interval ± 1.5 ± 1.0 (X) ± 7. ± 6.5 ± 6.4 ± 6. ± 0. ± 14.4 ± 16.1 ± 0.6 ± 9. 01: 94.9 617.6 1.6 9.7 96.9 55. 149.6 10.0 46.5 5.9 14.8 14. 014: (r) 1,00. 647.9 1.7 41.7 109.6 51. 16.5 105.7 496. 45.9 5.0 145.1 RSE (%) 1 15 5 4 014: Year to Date 15.8 79. 1. 45. 1.1 5.0 9.8 6.1 71. 48. 1.6 19.8 015: Year to Date 15.9 86.7 0.9 48. 9.8 4. 1. 7.6 75. 5.8 7.6.0 RSE (%) 4 4 10 16 1 10 8 5 4 6 5 Year to Date Percent Change 8.0% 9.5% -4.% 6.6% -4.9% -1.% 5.7% 4.% 5.4% 9.% 18.9% 11.% 90% Confidence Interval ± 9. ± 7. ± 41.4 ±. ± 1.5 ± 4.1 ± 49.7 ±.5 ± 10. ± 10.1 ± 1. ± 1. 014: February 65.1 40.6 0.8.8 5.6.0 6.9.8 7. 5. 15.4 9.5 March 80. 54.6 1.1 4.5 10.1 4.1 10.8 7.9 41.7 0.5 17.5 1.1 April 94.9 60.8 0.8. 11.0 4.9 17.6 10.7 4.8 0.1.5 15.1 May 9.5 60.9 0.9 0.8 8. 5.0 16.6 11. 49.8.7 17.9 1.0 June 87. 60.9 1.8 4.7 8.9 5.1 19.5 1.5 7.0 8.5.0 14.8 July 101.0 61. 1.5 8. 1.8 4.5 15.9 11.0 47. 1.6 5.0 14.1 August 86. 58.0 1.5 6.7 9.7 5.0 16.6 9.5 41.5 0.8 18.4 1.7 September 94. 58. 1. 4.7 10.1 4.8 16.7 11.4 45.7 9.9 1.7 1. October 9.0 58.4 1.5.0 9.0 5.0 15.1 9.7 50. 1.7 17.6 1.0 November 75.8 47. 0.7 7.8 8.6 4. 1.8 8.5.7 4.8 0.8 9.8 December (r) 7.4 48.1 1.4.8 8.0.6 10.1 7. 5. 6.9 0.0 10.4 015: January (r) 7.5 46.0 0.4 7.1 6.8. 8. 4.5 7.5 6.6 1.0 11.8 February (p) 6.4 40.7 0.5 1.1.0 1.1 5.1. 7.7 6. 16.6 10. Average RSE (%) 1 5 5 4 1 19 15 14 10 7 6 9 9
Table 4. New Privately-Owned Housing Units Under Construction at End of Seasonally adjusted 014: February 714 5 (S) 70 106 40 108 56 5 167 175 7 March 7 6 (S) 77 11 40 108 57 7 166 175 7 April 74 9 (S) 94 117 40 11 58 166 181 75 May 755 4 (S) 404 114 9 115 60 45 169 181 74 June 769 4 (S) 416 118 9 11 61 44 168 186 75 July 789 4 (S) 44 1 9 11 60 5 170 19 74 August 790 48 (S) 41 1 40 1 60 5 174 19 74 September 795 50 (S) 44 11 40 1 6 55 17 196 75 October 806 57 (S) 47 11 40 14 6 69 179 19 76 November 817 61 (S) 445 17 41 18 6 66 181 196 76 December (r) 88 6 (S) 45 19 41 18 6 7 18 199 76 015: January (r) 8 65 (S) 457 10 4 18 6 71 18 04 78 February (p) 86 64 (S) 46 18 41 18 6 7 181 07 79 Average RSE (%) 1 (X) 5 5 5 5 5 4 4 4 6 February 015 from January 015 0.4% -0.% (S) 1.1% -1.5% -.4% 0.0% 0.0% 0.5% -0.5% 1.5% 1.% 90% Confidence Interval ± 1.0 ± 1. (X) ± 1. ± 1.1 ± 1.6 ± 1.8 ± 1.8 ± 1.9 ±.0 ±.1 ±.9 February 015 from February 014 17.1% 8.7% (S) 4.9% 0.8%.5% 18.5% 1.5% 14.8% 8.4% 18.% 9.7% 90% Confidence Interval ±.8 ±.4 (X) ± 6.9 ± 8.9 ± 7.6 ± 9.8 ± 10.6 ± 6.0 ± 5. ± 8.1 ± 6.4 014: February 694.9 15.8 9.5 69.5 104.0 8.1 10.9 50.7 17. 159.6 170.8 67.5 March 711.9.6 9.7 79.6 11.8 9.0 10.1 5.0 4.0 161.9 17.0 69.7 April 74.4 6.4 9.7 96. 117.7 40.6 110.9 55.4.6 165.9 181.1 74.6 May 760.9 44.6 9.0 407. 115.1 9.1 114.5 59. 48.7 171.7 18.6 74.5 June 78.8 54. 10.1 418.5 119.6 40.0 1. 6.0 51.4 174. 188.5 77.1 July 808.6 60.9 11.7 46.1 1.9 9.5 15.4 64.1 61.8 178.1 197.4 79. August 804.7 65. 11.0 48.5 1.4 40.9 16.0 64.5 59.4 181.4 195.8 78.4 September 810. 66. 11.1 4.0 11.1 40.7 17. 66. 61.7 179.8 00. 79.5 October 814.7 66.6 11.7 46. 11.5 41.0 17.9 65.9 71.4 181.7 19.9 78.0 November 818.4 60.7 11.0 446.7 17.4 41.4 19.6 64.7 65. 179. 196. 75. December (r) 806.6 44.7 11.7 450. 17.7 40.4 15.6 61.4 60. 17. 19.1 70.6 015: January (r) 810. 45.4 11.1 45.9 17.6 40. 14. 59.4 59.7 17.1 198.8 7.5 February (p) 815.0 44.6 10. 460. 16.5 9. 11.7 56.9 64.8 17.4 0.1 75.0 Average RSE (%) 1 17 5 5 5 5 5 4 4 4 6
Table 5. New Privately-Owned Housing Units Completed Seasonally adjusted annual rate 014: February 866 617 (S) 40 65 47 154 105 449 5 198 10 March 874 614 (S) 48 69 49 14 99 47 49 198 117 April 8 606 (S) 7 41 14 100 49 0 197 15 May 898 68 (S) 58 117 66 15 90 416 9 1 14 June 809 591 (S) 1 79 5 149 107 407 91 174 140 July 860 61 (S) 9 5 151 117 4 1 185 10 August 908 611 (S) 87 97 4 16 101 449 16 199 151 September 950 67 (S) 16 1 51 165 105 477 47 185 14 October 915 614 (S) 94 97 47 147 101 417 18 54 148 November 867 61 (S) 40 54 4 1 99 459 140 December (r) 941 667 (S) 68 8 47 169 106 46 51 5 16 015: January (r) 986 677 (S) 0 75 48 16 104 550 94 5 11 February (p) 850 595 (S) 6 5 6 16 91 47 46 198 1 Average RSE (%) 1 6 5 (X) 14 0 1 14 11 7 8 10 10 February 015 from January 015-1.8% -1.1% (S) -1.9% -9.% -5.0% -7.4% -1.5% -14.0% -1.% -1.0% -6.9% 90% Confidence Interval ± 9.0 ± 10.0 (X) ± 16.6 ± 4.0 ± 18.4 ± 8.6 ± 17.5 ± 14. ± 16.9 ± 16.8 ± 17.0 February 015 from February 014-1.8% -.6% (S) -1.7% -18.5% -.4% -18.% -1.% 5.%.% 0.0% -6.% 90% Confidence Interval ± 11.7 ± 1.0 (X) ± 6.0 ± 4.1 ±.0 ± 4.0 ± 7.5 ± 19. ± 0.0 ± 1. ± 1.8 01: 764.4 569.1 9.1 186. 75. 48.5 10.6 95.6 89.4 95.9 179. 19. 014: (r) 88.8 619.5 8.7 55.6 88.5 49. 148.8 10.4 441.0 9.0 05.5 17.7 RSE (%) 1 5 4 4 014: Year to Date 115.7 8.4 1.5 0.8 10. 6. 18.4 14.0 61.0 46.1 6.1 17.0 015: Year to Date 1.8 86.9 1.7 5. 8.4 5.5 16.8 1.4 70.5 5.0 8. 17.1 RSE (%) 4 4 8 11 10 7 1 9 6 6 6 7 Year to Date Percent Change 7.1% 4.% 1.5% 14.5% -18.% -1.% -8.7% -11.4% 15.6% 1.7% 8.1% 0.0% 90% Confidence Interval ± 8.6 ± 7.6 ± 77.8 ± 5.1 ± 5.6 ± 1. ± 6.0 ± 17.5 ± 1.7 ± 1.1 ± 15. ± 14.9 014: February 59.5 4.1 0.6 15.8 4.1.9 10. 6.9 1.8 4. 1.5 9.0 March 67.6 47.8 0.9 18.8 4.4.8 9.8 7.1 7.7 8. 15.8 9.7 April 6.8 46.4 0. 17.1 5.5.1 9. 7. 4. 5.7 15.0 10. May 7.4 5.7 0.9 19.7 10.0 6.1 1. 7.5.7 7.0 17.5 1. June 71.0 51.0 0.4 19.6 6.8 4.5 1.7 8.9 6.5 5.8 15.0 11.9 July 71.9 51.5 0.6 19.8 8.1 4.6 1.6 9.6 5.9 6.9 15. 10.4 August 86.9 54.1 1.1 1.6 9.7.7 15.8 8.9 4.7 8.0 18.7 1.5 September 88.5 56.9 0.7 1.0 1. 5.1 16.0 10.1 4. 0.5 17.1 11.1 October 8.7 57.6 0.6 5.5 9.0 4.7 14.0 10.0 7.9 9..8 1.6 November 71.9 5.6 1.0 17. 4.7.9 11.9 9.5 6.5 7.4 18.8 1.8 December (r) 89.5 64.5 0.6 4.5 7.9 4.6 16. 10.5 41.7 4.0.6 15.4 015: January (r) 65.8 45. 0.5 0.0 5.0. 8.6 6.5 7. 6.9 15.0 8.7 February (p) 58.0 41.6 1. 15... 8. 5.9. 5.1 1. 8. Average RSE (%) 1 6 5 4 14 0 1 14 11 7 8 10 10 (p) Prelminary. (r) Revised. RSE Relative standard error. S Does not meet publication standards because tests for identifiable and stable seasonality do not meet reliability standards.