U.S. Census Bureau: Monthly New Residential Construction, March 2021

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for March 2021:

Building Permits

Privately-owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 1,766,000. This is 2.7 percent (±1.7 percent) above the revised February rate of 1,720,000 and is 30.2 percent (±1.8 percent) above the March 2020 rate of 1,356,000. Single-family authorizations in March were at a rate of 1,199,000; this is 4.6 percent (±1.9 percent) above the revised February figure of 1,146,000. Authorizations of units in buildings with five units or more were at a rate of 508,000 in March.

Housing Starts

Privately-owned housing starts in March were at a seasonally adjusted annual rate of 1,739,000. This is 19.4 percent (±13.7 percent) above the revised February estimate of 1,457,000 and is 37.0 percent (±15.2 percent) above the March 2020 rate of 1,269,000. Single-family housing starts in March were at a rate of 1,238,000; this is 15.3 percent (±17.4 percent)* above the revised February figure of 1,074,000. The March rate for units in buildings with five units or more was 477,000.

Housing Completions

Privately-owned housing completions in March were at a seasonally adjusted annual rate of 1,580,000. This is 16.6 percent (±14.0 percent) above the revised February estimate of 1,355,000 and is 23.4 percent (±13.7 percent) above the March 2020 rate of 1,280,000. Single-family housing completions in March were at a rate of 1,099,000; this is 5.3 percent (±11.7 percent)* above the revised February rate of 1,044,000. The March rate for units in buildings with five units or more was 476,000.

For the full March report, click here.

Source: U.S. Census Bureau