New Construction: Housing Starts Up 34.7% Over February 2011

Yesterday's Housing Market Index released by the National Association of Homebuilders showed builder confidence in new single-family home construction unchanged in March.  Following five consecutive months of gains, the HMI continues to hold at its highest level since June of 2007.

This morning the U.S. Census Bureau and the Department of Housing and Urban Development released their latest monthly joint report on housing starts nationwide with data through February 2011. Below is a summary of the latest figures:

Building Permits

• up 34.3% over February 2011
• up 5.1% over the previous month

Housing Starts

• up 34.7% over February 2011
• down 1.1% from January

Housing Completions

• 7% below February 2011
• 6.2% above January
• single-family housing completions alone are 8.2% above January

Economic indicators for new residential construction and sales, manufacturing, retail, U.S. international trade, construction spending, and homeownership are released every month by the U.S. Census and Department of Housing and Urban Development.