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.
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.