HOUSING UNITS COMPLETED IN MARCH 1997 AT AN ANNUAL RATE OF 1,400,000 Privately owned housing completions in March were at a seasonally adjusted annual rate of 1,400,000, according to estimates released jointly today by the U.S. Commerce Department's Bureau of the Census and the U.S. Department of Housing and Urban Development. This is 10 (+/-6) percent below the revised February rate of 1,563,000, but 1 (+/-7) percent above the March 1996 estimate of 1,382,000. The March 1997 rate of single-family housing completions was 1,107,000; this is 12 (+/-6) percent below the revised February rate of 1,258,000. The March rate for units in buildings with five units or more was 249,000. The March rate for units in buildings with two to four units was 44,000. During the first 3 months of this year, 303,700 housing units were completed compared with 293,400 units for the same period in 1996. This is an increase of 4 (+/-4) percent. At the end of March, the seasonally adjusted estimate of housing units under construction was 819,000; this is 1 (+/-1) percent below the revised February figure of 825,000. Of these, 572,000 units were single-family structures, 219,000 were in buildings with five units or more, and 28,000 were in buildings with two to four units. The next press release is scheduled to be issued on Thursday, June 5, 1997, at 10:00 A.M. EDT. Note: This document is no longer available on CENDATA, FASTFAX or the CENSUS/BEA Forum. This document and future releases can be retrieved from the Census Bureau's World-Wide-Web site, http://www.census.gov/ EXPLANATORY NOTES In interpreting changes in the seasonally adjusted rate of housing completions, note that month-to-month changes often show movements which may be irregular. It may take 4 months to establish an underlying trend for total completions. 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 1997 issue of Current Construction Reports, C22/97-1 includes explanations of confidence intervals and sampling variability. On average, the preliminary seasonally adjusted estimate of total housing completions is revised about +/-1 percent. Questions regarding these data may be directed to Manufacturing and Construction Division, Residential Construction Branch, telephone (301) 457-4703. NEW PRIVATELY OWNED HOUSING UNITS COMPLETED BY TYPE OF STRUCTURE: MARCH 1997 In structures with -- 3 and 4 5 units Period Total 1 unit 2 units units or more Seasonally adjusted annual rate 1996 - March 1,382 1,102 28 252 April 1,351 1,074 26 251 May 1,409 1,124 25 260 June 1,426 1,137 24 265 July 1,463 1,161 30 272 August 1,449 1,153 43 253 September 1,356 1,097 40 219 October 1,375 1,129 26 220 November 1,431 1,151 43 237 December 1,484 1,177 45 262 1997 - January(r) 1,362 1,109 18 235 February(r) 1,563 1,258 49 256 MARCH(p) 1,400 1,107 44 249 AVG. RSE (%) 3 3 12 8 Not seasonally adjusted 1995 1,312.6 1,065.5 14.8 19.8 212.4 1996 1,412.9 1,128.5 13.6 19.5 251.3 AVG. RSE (%) 1 1 11 7 2 1996 First 3 months 293.4 235.4 2.0 4.5 51.6 1997 First 3 months 303.7 246.3 2.6 5.8 49.0 AVG. RSE (%) 2 2 12 17 5 1996 - March 103.1 83.7 0.6 1.8 17.1 April 101.9 80.3 0.7 1.4 19.4 May 114.6 91.9 0.9 1.0 20.7 June 125.9 98.0 1.0 1.0 25.9 July 126.3 97.6 1.0 1.9 25.9 August 134.1 104.1 1.8 2.1 26.1 September 122.1 99.6 1.2 2.3 19.0 October 129.9 108.5 1.0 1.0 19.4 November 122.7 99.2 2.5 2.0 19.1 December 141.8 113.9 1.4 2.4 24.2 1997 - January(r) 95.7 78.9 0.3 1.0 15.5 February(r) 104.1 83.9 1.1 2.3 16.8 MARCH(p) 103.9 83.5 1.2 2.5 16.7 AVG. RSE (%) 3 3 17 16 8 Thousands of units. Detail may not add to total because of rounding. AVG. RSE (%): Annual - Avg. RSE for the last 2 years. Year to date - Avg. RSE for the current period and the same period last year. Monthly - Avg. RSE for the latest 6-month period (January-June or July-December). (p) Preliminary. (r) Revised. (Z) Less than 50 units or less than 0.5 percent. Source: Construction Reports, Series C22, Housing Completions. The C22 report is available from the U.S. Government Printing Office. Annual Subscription: $11.00. Questions regarding these data may be directed to Erica Filipek, Construction Starts Branch, telephone (301) 457-4703. NEW PRIVATELY OWNED HOUSING UNITS COMPLETED BY LOCATION: MARCH 1997 North- Mid- Period Total east west South West Seasonally adjusted annual rate 1996 - March 1,382 97 303 627 355 April 1,351 117 302 612 320 May 1,409 118 283 645 363 June 1,426 127 304 639 356 July 1,463 105 351 656 351 August 1,449 126 313 661 349 September 1,356 132 285 586 353 October 1,375 131 274 642 328 November 1,431 144 328 639 320 December 1,484 137 322 681 344 1997 - January(r) 1,362 117 316 588 341 February(r) 1,563 163 336 714 350 MARCH(p) 1,400 175 271 639 315 AVG. RSE (%) 3 8 8 4 5 Not seasonally adjusted 1995 1,312.6 126.9 287.9 581.1 316.7 1996 1,412.9 125.1 304.5 637.1 346.2 AVG. RSE (%) 1 3 2 2 1 1996 First 3 months 293.4 24.2 56.2 135.5 77.5 1997 First 3 months 303.7 31.2 58.8 141.1 72.5 AVG. RSE (%) 2 5 4 3 3 1996 - March 103.1 6.6 20.0 49.7 26.8 April 101.9 8.8 22.9 45.9 24.3 May 114.6 9.2 22.6 53.3 29.5 June 125.9 10.9 27.8 56.6 30.5 July 126.3 9.3 29.9 56.3 30.8 August 134.1 11.0 30.3 61.4 31.4 September 122.1 11.7 27.4 51.3 31.7 October 129.9 13.2 27.1 59.7 30.0 November 122.7 13.5 30.0 52.3 27.0 December 141.8 13.3 30.3 64.7 33.6 1997 - January(r) 95.7 8.5 21.2 41.6 24.4 February(r) 104.1 10.4 20.3 48.9 24.4 MARCH(p) 103.9 12.2 17.3 50.6 23.7 AVG. RSE (%) 3 8 8 4 5 Thousands of units. Detail may not add to total because of rounding. AVG. RSE (%): Annual - Avg. RSE for the last 2 years. Year to date - Avg. RSE for the current period and the same period last year. Monthly - Avg. RSE for the latest 6-month period (January-June or July-December). (p) Preliminary. (r) Revised. (Z) Less than 50 units or less than 0.5 percent. Source: Construction Reports, Series C22, Housing Completions. The C22 report is available from the U.S. Government Printing Office. Annual Subscription: $11.00. Questions regarding these data may be directed to Erica Filipek, Construction Starts Branch, telephone (301) 457-4703. NEW PRIVATELY OWNED HOUSING UNITS UNDER CONSTRUCTION AT END OF PERIOD BY TYPE OF STRUCTURE: MARCH 1997 In structures with -- 3 and 4 5 units Period Total 1 unit 2 units units or more Seasonally adjusted 1996 - March 814 580 20 214 April 825 590 23 212 May 826 590 24 212 June 826 594 25 207 July 825 593 27 205 August 820 593 24 203 September 825 592 25 208 October 825 588 26 211 November 828 584 28 216 December 815 571 28 216 1997 - January(r) 818 573 29 216 February(r) 825 578 28 219 MARCH(p) 819 572 28 219 AVG. RSE (%) 1 2 7 3 Not seasonally adjusted 1996 - March 772.8 544.0 8.1 10.8 209.9 April 813.5 578.4 9.2 13.2 212.7 May 835.2 595.5 9.7 14.4 215.7 June 845.1 610.5 10.2 16.4 208.0 July 853.3 619.9 9.9 17.8 205.7 August 857.0 627.3 9.2 16.1 204.4 September 858.9 624.5 10.3 15.0 209.1 October 855.1 614.0 10.8 16.7 213.6 November 843.3 596.7 9.3 19.2 218.2 December 792.3 550.0 9.0 19.1 214.3 1997 - January(r) 777.2 536.2 9.1 19.0 212.8 February(r) 767.2 527.2 9.4 17.7 212.8 MARCH(p) 778.4 537.0 9.1 17.5 214.8 AVG. RSE (%) 1 2 8 9 3 Thousands of units. Detail may not add to total because of rounding. AVG. RSE (%): Avg. RSE for the latest 6-month period (January-June or July-December). (p) Preliminary. (r) Revised. (Z) Less than 50 units or less than 0.5 percent. Source: Construction Reports, Series C22, Housing Completions. The C22 report is available from the U.S. Government Printing Office. Annual Subscription: $11.00. Questions regarding these data may be directed to Erica Filipek, Construction Starts Branch, telephone (301) 457-4703. NEW PRIVATELY OWNED HOUSING UNITS UNDER CONSTRUCTION AT END OF PERIOD BY LOCATION: MARCH 1997 North- Mid- Period Total east west South West Seasonally adjusted 1996 - March 814 88 180 347 199 April 825 89 180 352 204 May 826 90 180 353 203 June 826 88 180 354 204 July 825 91 180 352 202 August 820 90 181 347 202 September 825 90 183 354 198 October 825 89 183 352 201 November 828 86 182 355 205 December 815 86 180 350 199 1997 - January(r) 818 88 179 352 199 February(r) 825 87 183 352 203 MARCH(p) 819 85 182 347 205 AVG. RSE (%) 1 4 4 2 2 Not seasonally adjusted 1996 - March 772.8 82.6 164.5 335.7 190.0 April 813.5 86.5 172.3 352.5 202.2 May 835.2 88.4 181.0 361.7 204.1 June 845.1 90.4 183.6 363.2 208.0 July 853.3 93.9 188.3 364.2 206.9 August 857.0 94.3 192.7 359.3 210.6 September 858.9 93.7 193.4 364.4 207.5 October 855.1 92.4 195.1 357.2 210.3 November 843.3 88.8 191.1 356.5 207.0 December 792.3 85.2 178.0 337.6 191.4 1997 - January(r) 777.2 84.8 167.0 335.8 189.6 February(r) 767.2 80.5 163.1 333.7 189.9 MARCH(p) 778.4 79.7 167.1 334.8 196.7 AVG. RSE (%) 1 4 4 2 2 Thousands of units. Detail may not add to total because of rounding. AVG. RSE (%): Avg. RSE for the latest 6-month period (January-June or July-December). (p) Preliminary. (r) Revised. (Z) Less than 50 units or less than 0.5 percent. Source: Construction Reports, Series C22, Housing Completions. The C22 report is available from the U.S. Government Printing Office. Annual Subscription: $11.00. Questions regarding these data may be directed to Erica Filipek, Construction Starts Branch, telephone (301) 457-4703.