Housing Completions Move Downward

Nationally, housing completions declined 10.3 percent for 5 or more units, compared to March 2010. Courtesy of Calculated Risk Blog

Privately-owned housing completions in March were at a seasonally adjusted annual rate of 509,000. This is 14.2 percent (plus or minus 13.9 percent) below the revised February estimate of 593,000 and is 20.8 percent (plus or minus 9.6 percent) below the March 2010 rate of 643,000.

Single-family housing completions in March were at a rate of 374,000; this is 22.2 percent (plus or minus 9.4 percent) below the revised February rate of 481,000. The March rate for units in buildings with five units or more was 130,000.

Nationally, housing completions declined 20.8 percent overall, compared to March 2010, with declines of 23.5 percent for single units and 10.3 percent for 5 or more units.

The Midwest was the region that fared the best with an overall increase of 22 percent and decrease of 6.8 percent for single units. The region that fared the poorest was the South, with declines of 25.5 percent overall and 22.6 percent for single units.

- Courtesy of U.S. Census Bureau