The U.S. Census Bureau and U.S. Department of Housing and Urban Development this week released March 2022 housing numbers. Permits and starts outpaced expectations, but housing completions fell month-to-month and year-over-year.
Building Permits
Privately‐owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 1.873 million. This is 0.4 percent above the revised February rate of 1.865 million and is 6.7 percent above the March 2021 rate of 1.755 million. Single‐family authorizations in March were at a rate of 1.147 million, 4.8 percent below the revised February figure of 1.205 million. Authorizations of units in buildings with five units or more were at a rate of 672,000 in March.
Housing Starts
Privately‐owned housing starts in March were at a seasonally adjusted annual rate of 1.793 million, 0.3 percent above the revised February estimate of 1.788 million is 3.9 percent above the March 2021 rate of 1.725 million.
Single‐family housing starts in March were at a rate of 1.200 million, 1.7 percent below the revised February figure of 1.221 million. The March rate for units in buildings with five units or more was 574,000.
Housing Completions
Privately‐owned housing completions in March were at a seasonally adjusted annual rate of 1.303 million, 4.5 percent below the revised February estimate of 1.365 million is 13 percent below the March 2021 rate of 1.497 million. Single‐family housing completions in March were at a rate of 1 million, 6.4 percent below the revised February rate of 1.068 million. The March rate for units in buildings with five units or more was 292,000.
MHInsider is the leader in manufactured housing news and is a product of MHVillage, the largest marketplace for manufactured homes.
