Detached housing in USA at highest since 2007

In February, construction of detached houses in the USA, at 822,000 building starts, reached the highest level recorded since November 2007. According to information from the US Census Bureau building starts on detached houses in the twelve-month period up to and including February increased by 7.2% to 822,000 units vis à vis the twelve months up to and including January, adjusted to account for seasonal fluctuations. Building starts on apartments within multi-family houses, at 341,000 units, were only 2.4% above the previous month’s figure. Thus building starts across all house sizes increased by 5.2% to a total of 1.178m units.

Building approvals in the twelve months up to February declined by 3.1% to a total of 1.167m units. This decline was due to a decrease of 9.1% to 401,000 in approvals for dwelling units in multi-family houses. Approvals for detached houses as well as apartments in two to four-family houses, at 731,000 and 35,000 units respectively, in contrast remained stable.

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