The US Census Bureau and the Department of Housing and Urban Development jointly announced Wednesday that privately-owned housing units authorized by building permits in February were at a seasonally adjusted rate of 517,000-8.2 percent (±3.3 percent) below the January rate of 563,000 and 20.5 percent (±3.5 percent) below the February 2010 rate of 650,000.
Housing starts in February totaled 479,000 in February, representing a 22.5 percent (±9.8 percent) decrease from the 618,000 housing starts recorded in January. February's total is also 20.8 percent below the February 2010 rate of 605,000.
February's annual rate of housing starts was the slowest pace since April 2009, and the decrease from January to February was also the largest since March 1984.