Housing Completions on the Upswing

 

The Midwest did the worst with an overall decrease in housing completions of 23.7 percent and 28.1 percent decrease for single units. - Photo Courtesy of Midwest Management & Housing LLC

Privately-owned housing completions in February were at a seasonally adjusted annual rate of 700,000. This is 5.4 percent (???????(R)???????+???????(R)????????20.2%)* above the revised January estimate of 664,000, but is 15.5 percent (???????(R)???????+???????(R)????????13.6%) below the February 2009 rate of 828,000.

Single-family housing completions in February were at a rate of 458,000; this is 4.3 percent (???????(R)???????+???????(R)????????13.7%)* above the revised January rate of 439,000. The February rate for units in buildings with five units or more was 236,000.

From February 2009 to February 2010 privately owned housing units completed decreased by 15.5 percent, with a decrease of 14.2 percent for single units and a decrease of 15.7 percent for 5 or more units. The Northeast fared the best with a total decrease of 8.7 percent and 3.9 percent increase for single units. ?EUR??,,????'?????<