The US Census released the January Housing Permits and Starts report for February 2012. Nationally the report is showing a small decline in housing starts and an increase in building permits.
Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 717,000. This is
5.1 percent (±1.2%) above the revised January rate of 682,000 and is 34.3 percent (±3.1%) above the February 2011 estimate of
Single-family authorizations in February were at a rate of 472,000; this is 4.9 percent (±1.2%) above the revised January figure of
450,000. Authorizations of units in buildings with five units or more were at a rate of 219,000 in February.
Privately-owned housing starts in February were at a seasonally adjusted annual rate of 698,000. This is 1.1 percent (±15.9%)* below
the revised January estimate of 706,000, but is 34.7 percent (±16.7%) above the February 2011 rate of 518,000.
Single-family housing starts in February were at a rate of 457,000; this is 9.9 percent (±11.4%)* below the revised January figure of
507,000. The February rate for units in buildings with five units or more was 233,000.
For the Midwest Region
Housing Permits increased by 14.7% ( 15,000 units), most of that increase was in multi-family units. 1-Unit structure permits increased by 2.7% (2,000 units) from January to February.
Housing Starts increased slightly by 3% (3,000 Units) and a large increase of 1-unit structures by 13.9% (11,000 units).
The Minneapolis / St Paul figures should be out next week when we can take a closer look at our local market.
- Housing Starts Dip, Building Permits Surge In February (brendanfontaine.wordpress.com)
- Building Permits, Starts Well Above Early 2011 Pace (mortgagenewsdaily.com)
- Midwest Housing Starts and Building Permits (craigkamman.com)
- February Housing Starts Pause (eyeonhousing.wordpress.com)