HOUSING STARTS AND BUILDING PERMITS IN MARCH 1998 PRIVATELY OWNED HOUSING STARTS Privately owned housing starts in March were at a seasonally adjusted annual rate of 1,590,000, according to estimates reported today by the U.S. Commerce Department's Bureau of the Census. This is 3 (+/-9) percent below the revised February rate of 1,635,000, but 8 (+/-6) percent above the March 1997 rate of 1,477,000. Single-family housing starts in March 1998 were at a rate of 1,238,000; this is 2 (+/-5) percent below the February figure of 1,269,000. The March rate for units in buildings with five units or more was 305,000. The March rate for units in buildings with two to four units was 47,000. During the first 3 months of this year, 325,100 housing units were started compared with 297,200 units for the same period in 1997. This is an increase of 9 (+/-4) percent. BUILDING PERMITS The seasonally adjusted annual rate of housing units authorized by building permits in March was 1,584,000; this is 3 (+/-1) percent below the revised February rate of 1,625,000, but 9 (+/-2) percent above the March 1997 figure of 1,457,000. Single-family authorizations in March 1998 were at a rate of 1,148,000; this is 1 (+/-1) percent below the February figure of 1,163,000. Authorizations of units in buildings with five units or more were at a rate of 362,000 in March; this is 7 percent below the February figure of 389,000. The March rate of permit- authorized units in buildings with two to four units was 74,000. During the first 3 months of this year, 336,700 housing units were authorized by building permits compared with 303,400 units for the same period in 1997. This is an increase of 11 (+/-1) percent. MOBILE HOME SHIPMENTS Statistics on mobile home shipments, which lag by 1 month, appear in the Current Construction Reports, series C20. In February, manufacturers' shipments of mobile homes were at a seasonally adjusted annual rate of 377,000; this is 4 percent above the January figure of 362,000. The February 1997 rate was 356,000. Before seasonal adjustment, total shipments in February 1998 were 27,700. The next press release is scheduled to be issued on Tuesday, May 19, 1998, at 8:30 A.M. EDT. EXPLANATORY NOTES In interpreting changes in the statistics in this release, note that month-to-month changes in seasonally adjusted statistics often show movements which may be irregular. It may take 4 months to establish an underlying trend for total starts, 3 months for building permit authorizations, and 2 months for mobile home shipments. Except for those on mobile home shipments, the statistics in this release are estimated from sample surveys and are subject to sampling variability as well as nonsampling error including bias and variance from response, nonreporting, and undercoverage. Estimated average relative standard errors of preliminary data are shown in the tables. Whenever a statement such as "2 (+/-3) percent above" appears in the text, this indicates the range (-1 to +5 percent) in which the actual percent change is likely to have occurred. All ranges given for percent changes are 90- percent confidence intervals and account only for sampling variability. If a range contains zero, it is uncertain whether there was an increase or decrease; that is, the change is not statistically significant. For any comparison cited without a confidence interval, the change is statistically significant. The January 1998 Current Construction Reports, C20/98-1, includes explanations of confidence intervals and sampling variability. On average, the preliminary seasonally adjusted estimates of total housing starts and building permits are revised about +/-1 percent. Statistics on mobile home shipments are compiled from manufacturers' reports to the National Conference of States on Building Codes and Standards (NCSBCS). NEW PRIVATELY OWNED HOUSING UNITS STARTED BY TYPE OF STRUCTURE: MARCH 1998 In structures with - 3 and 4 5 units Period Total 1 unit 2 units units or more Seasonally adjusted annual rate 1997 - March 1,477 1,139 44 294 April 1,480 1,134 41 305 May 1,404 1,095 34 275 June 1,502 1,132 40 330 July 1,461 1,144 38 279 August 1,383 1,076 43 264 September 1,501 1,174 45 282 October 1,529 1,124 64 341 November 1,523 1,167 40 316 December 1,540 1,130 62 348 1998 - January(r) 1,545 1,225 49 271 February(r) 1,635 1,269 67 299 MARCH (p) 1,590 1,238 47 305 AVG. RSE(%) 3 3 14 7 Not seasonally adjusted 1996 1,476.8 1,160.9 16.4 28.8 270.8 1997 1,474.0 1,133.7 18.1 26.4 295.8 AVG. RSE(%) 1 1 6 9 2 1997 First 3 months 297.2 237.8 2.9 5.2 51.3 1998 First 3 months 325.1 257.9 3.3 6.9 57.0 AVG. RSE(%) 2 1 9 17 8 1997 - March 120.4 96.1 0.9 2.6 20.7 April 142.3 109.5 1.8 2.2 28.9 May 136.3 106.2 1.2 1.9 27.0 June 140.4 108.8 1.4 2.6 27.5 July 134.6 107.4 1.9 1.5 23.7 August 126.5 98.8 1.5 2.0 24.2 September 139.2 108.3 2.2 2.0 26.7 October 139.0 99.2 2.0 4.4 33.4 November 112.4 83.7 1.6 2.2 25.0 December 106.0 73.9 1.8 2.3 28.1 1998 - January (r) 91.2 72.3 0.8 1.5 16.5 February (r) 102.3 79.5 0.8 3.4 18.6 MARCH (p) 131.6 106.1 1.7 1.9 21.9 AVG. RSE(%) 3 3 13 21 7 Thousands of units. Detail may not add to total because of rounding. AVG. RSE(%): Annual - Avg. RSE for the last two years. YTD - Avg. RSE for the current period and the same period last year. Monthly - Avg. RSE for the latest six month period (January-June or July-December). (p) Preliminary. (r) Revised. (X) Not applicable. (Z) Less than 50 units or less than 0.5 percent. Source: Construction Reports, Series C20, Housing Starts. The C20 Report is available from the U.S. Government Printing Office. Annual subscription: $21.00. Questions regarding these data may be directed to the Manufacturing and Construction Division, Residential Construction Branch, telephone (301)457-4703. NEW PRIVATELY OWNED HOUSING UNITS STARTED BY REGION: MARCH 1998 North- Mid- Period Total east west South West Seasonally adjusted annual rate 1997 - March 1,477 152 303 653 369 April 1,480 135 297 698 350 May 1,404 123 297 624 360 June 1,502 116 311 707 368 July 1,461 146 302 668 345 August 1,383 126 277 645 335 September 1,501 139 304 696 362 October 1,529 113 328 714 374 November 1,523 182 272 661 408 December 1,540 131 337 677 395 1998 - January(r) 1,545 159 342 665 379 February (r) 1,635 202 364 726 343 MARCH (p) 1,590 142 338 718 392 AVG. RSE(%) 3 9 6 4 3 Not seasonally adjusted 1996 1,476.8 132.1 321.5 661.9 361.4 1997 1,474.0 136.8 303.6 670.3 363.3 AVG. RSE (%) 1 1 2 2 1 1997 First 3 months 297.2 25.8 49.2 142.7 79.5 1998 First 3 months 325.1 28.1 56.1 157.3 83.6 AVG. RSE (%) 2 13 4 2 2 1997 - March 120.4 11.1 22.3 55.5 31.4 April 142.3 13.1 28.4 68.6 32.2 May 136.3 11.7 31.5 58.8 34.4 June 140.4 11.6 31.9 62.3 34.5 July 134.6 14.6 30.0 58.9 31.1 August 126.5 11.6 28.1 55.5 31.3 September 139.2 13.7 29.7 62.6 33.1 October 139.0 11.2 34.0 60.9 33.0 November 112.4 14.7 21.2 49.4 27.1 December 106.0 8.8 19.6 50.6 27.0 1998 - January (r) 91.2 8.0 14.4 42.9 25.9 February (r) 102.3 9.6 17.1 52.4 23.3 MARCH (p) 131.6 10.5 24.7 62.0 34.4 AVG. RSE (%) 3 9 6 4 3 Thousands of units. Detail may not add to total because of rounding. AVG. RSE(%): Annual - Avg. RSE for the last two years. YTD - Avg. RSE for the current period and the same period last year. Monthly - Avg. RSE for the latest six month period (January-June or July-December). (p) Preliminary. (r) Revised. (X) Not applicable. (Z) Less than 50 units or less than 0.5 percent. Source: Construction Reports, Series C20, Housing Starts. The C20 Report is available from the U.S. Government Printing Office. Annual subscription: $21.00. Questions regarding these data may be directed to the Manufacturing and Construction Division, Residential Construction Branch, telephone (301)457-4703. PRIVATELY OWNED HOUSING UNITS AUTHORIZED BY BUILDING PERMITS IN PERMIT-ISSUING PLACES BY TYPE OF STRUCTURE: MARCH 1998 In structures with - 3 and 4 5 units Period Total 1 unit 2 units units or more Seasonally adjusted annual rate (19,000 permit-issuing places) 1997 - March 1,457 1,034 71 352 April 1,442 1,060 68 314 May 1,432 1,053 66 313 June 1,402 1,049 70 283 July 1,414 1,030 77 307 August 1,397 1,027 66 304 September 1,460 1,065 69 326 October 1,487 1,087 77 323 November 1,440 1,061 58 321 December 1,482 1,071 92 319 1998 - January 1,526 1,133 72 321 February (r) 1,625 1,163 73 389 MARCH (p) 1,584 1,148 74 362 AVG. RSE(%) 1 1 4 2 Not seasonally adjusted (19,000 permit-issuing places) 1996 1,425.6 1,069.5 33.6 32.2 290.3 1997 1,442.3 1,055.6 35.2 35.3 316.1 AVG. RSE(%) 1 1 2 3 1 1997 First 3 months 303.4 225.0 7.4 6.5 64.6 1998 First 3 months 336.7 248.7 6.9 8.1 73.0 AVG. RSE(%) (Z) (Z) (Z) (Z) (Z) 1997 - March 120.1 88.5 3.0 2.8 25.8 April 137.0 103.8 3.3 3.3 26.6 May 131.8 100.5 2.9 3.0 25.3 June 131.6 99.6 3.3 3.5 25.2 July 132.5 98.2 3.3 3.5 27.5 August 124.2 90.6 2.7 2.9 28.0 September 134.6 94.0 3.0 3.4 34.1 October 135.3 96.4 4.0 4.2 30.7 November 99.8 71.7 2.3 2.2 23.5 December 107.6 72.7 3.0 3.2 28.8 1998 - January 93.5 68.3 2.0 2.0 21.1 February (r) 105.6 76.6 2.2 2.6 24.3 MARCH (p) 136.5 103.1 2.8 3.6 27.0 AVG. RSE(%) 1 1 5 7 2 Not started at end of period - not seasonally adjusted (19,000 permit-issuing places) 1997 - March 133.2 69.4 4.6 59.2 1998 - January (r) 114.1 65.4 5.5 43.2 February (r) 119.2 68.4 3.7 47.1 MARCH (p) 128.4 73.0 5.0 50.4 AVG. RSE(%) 3 3 10 6 Thousands of units. Detail may not add to total because of rounding. AVG. RSE(%): Annual - Avg. RSE for the last two years. YTD - Avg. RSE for the current period and the same period last year. Monthly - Avg. RSE for the latest six month period (January-June or July-December). (p) Preliminary. (r) Revised. (X) Not applicable. (Z) Less than 50 units or less than 0.5 percent. Source: Construction Reports, Series C20, Housing Starts. The C20 Report is available from the U.S. Government Printing Office. Annual subscription: $21.00. Questions regarding these data may be directed to the Manufacturing and Construction Division, Residential Construction Branch, telephone (301)457-4703. PRIVATELY OWNED HOUSING UNITS AUTHORIZED BY BUILDING PERMITS IN PERMIT-ISSUING PLACES BY REGION: MARCH 1998 North- Mid- Period Total east west South West Seasonally adjusted annual rate (19,000 permit-issuing places) 1997 - March 1,457 153 307 652 345 April 1,442 127 316 651 348 May 1,432 129 298 632 373 June 1,402 135 296 641 330 July 1,414 133 276 656 349 August 1,397 134 283 614 366 September 1,460 135 300 638 387 October 1,487 126 286 684 391 November 1,440 136 290 633 381 December 1,482 154 316 620 392 1998 - January 1,526 169 334 647 376 February (r) 1,625 178 354 708 385 MARCH (p) 1,584 151 312 739 382 AVG. RSE(%) 1 2 2 1 1 Not seasonally adjusted (19,000 permit-issuing places) 1996 1,425.6 136.9 317.8 623.4 347.4 1997 1,442.3 141.8 298.2 637.9 364.4 AVG. RSE(%) 1 1 1 1 1 1997 First 3 months 303.4 29.6 53.5 144.4 75.8 1998 First 3 months 336.7 29.8 58.6 164.2 84.1 AVG. RSE(%) (Z) (Z) (Z) (Z) (Z) 1997 - March 120.1 11.3 24.1 55.9 28.8 April 137.0 12.4 31.4 61.5 31.7 May 131.8 12.6 29.3 56.6 33.2 June 131.6 13.6 28.2 57.4 32.3 July 132.5 13.3 27.2 58.2 33.7 August 124.2 12.5 27.0 52.5 32.1 September 134.6 12.3 29.1 57.8 35.3 October 135.3 12.1 29.6 58.6 35.1 November 99.8 10.5 21.1 43.5 24.6 December 107.6 10.7 20.7 47.1 29.1 1998 - January 93.5 9.6 14.6 45.5 23.8 February (r) 105.6 8.7 18.5 51.7 26.7 MARCH (p) 136.5 11.7 25.4 66.6 32.9 AVG. RSE(%) 1 2 2 1 1 Not started at end of period - not seasonally adjusted (19,000 permit-issuing places) 1997 - March 133.2 15.7 20.2 73.9 23.5 1998 - January (r) 114.1 12.4 15.0 63.0 23.7 February (r) 119.2 11.1 16.7 64.2 27.2 MARCH (p) 128.4 12.0 18.0 71.5 26.9 AVG. RSE(%) 3 9 9 4 5 Thousands of units. Detail may not add to total because of rounding. AVG. RSE(%): Annual - Avg. RSE for the last two years. YTD - Avg. RSE for the current period and the same period last year. Monthly - Avg. RSE for the latest six month period (January-June or July-December). (p) Preliminary. (r) Revised. (X) Not applicable. (Z) Less than 50 units or less than 0.5 percent. Source: Construction Reports, Series C20, Housing Starts. The C20 Report is available from the U.S. Government Printing Office. Annual subscription: $21.00. Questions regarding these data may be directed to the Manufacturing and Construction Division, Residential Construction Branch, telephone (301)457-4703.