Housing Starts Down 5.9%, Single Family Starts Down 0.6%

In February, housing starts fell 5.9% to an annualized pace of 575,000 units. The decline however, was almost entirely due to a large drop in the volatile multi-family unit component, which fell 30.9%. Single family starts, which are far less volatile month-to-month fell by a much more modest 0.6%. Since last June, single family starts have been remarkably stable at a pace at or just below 500,000 units per month. From a year prior, single family starts were up 39.8%. Total starts were essentially flat from a year earlier, rising 0.9%.

Millions (SAAR)	Feb	Jan	Dec	Nov	Oct	Sep
Housing Starts	0.58	0.61	0.57	0.58	0.52	0.59
M/M % Change	-5.9	6.6	-1.0	10.5	-10.6	0.9
Single Family Starts	0.50	0.50	0.48	0.49	0.47	0.51
M/M % Change	-0.6	4.4	-2.2	4.5	-7.3	5.6

10.03.16 (Source: Census Bureau)