The U.S. Census Bureau and the U.S. Department of Housing and Urban Development announced that housing starts in March 2022 were up 3.9% year over year.
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In March, privately-owned housing starts were at a seasonally adjusted annual rate of 1,793,000, a 0.3% increase compared to the revised February estimate and a 3.9% increase over the March 2021 rate of 1,725,000. Single-family housing starts were at a rate of 1,200,000, 1.7% below the revised February figure of 1,221,000.
In March, there were 1,873,000 building permits and 1,303,000 housing completions, a 6.7% and 13% increase year over year, respectively. Single-family authorizations in March were at a rate of 1,147,000, and single-family housing completions were 1,000,000.
Jonathan Bein, Ph.D. is Managing Partner at Distribution Strategy Group. He’s
developed customer-facing analytics approaches for customer segmentation,
customer lifecycle management, positioning and messaging, pricing and channel strategy for distributors that want to align their sales and marketing resources with how their customers want to shop and buy. If you’re ready to drive real ROI, reach out to Jonathan today at
jbein@distributionstrategy.com.