Housing Starts Jump 9.8% in February

This article was originally written by Doug Short. From 2016-2022, it was improved upon and updated by Jill Mislinski. Starting in January 2023, AP Charts pages will be maintained by Jennifer Nash at Advisor Perspectives/VettaFi.

The U.S. Census Bureau and the Department of Housing and Urban Development have now published their findings for February new residential housing starts. The latest reading of 1.450M was above the Investing.com forecast of 1.310M and is a 9.8% increase from the previous month's revised figure of 1.321M. Housing starts are down 18.4% compared to this time last year.

Here is the opening of this morning's monthly report:

Privately‐owned housing starts in February were at a seasonally adjusted annual rate of 1,450,000. This is 9.8 percent (±15.5 percent)* above the revised January estimate of 1,321,000, but is 18.4 percent (±8.9 percent) below the February 2022 rate of 1,777,000. Single‐family housing starts in February were at a rate of 830,000; this is 1.1 percent (±13.9 percent)* above the revised January figure of 821,000. The February rate for units in buildings with five units or more was 608,000. [link to report]