Housing starts in the United States increased 6.8% to a seasonally adjusted annual rate of 1,769,000 in February compared to the previous month's revised estimate, the US Census Bureau and Department of Housing and Urban Development announced on Thursday. Annually, housing starts soared 22.3% from the rate of 1,447,000 recorded in February 2021.
The rate for single-family housing starts in February stood at 1,215,000, up by 5.7% compared to the previous month's revised estimate.
Meanwhile, building permits were down by 1.9% on a monthly basis to a seasonally adjusted annual rate of 1,859,000. The figure marked a 7.7% increase from the same month a year ago. Housing completions stood at 1,309,000, adding 5.9% month-on-month and sliding 2.8% from February last year.
