FOR IMMEDIATE RELEASE THURSDAY, MARCH 16, 2006 AT 8:30 A.M. EST
Erica Filipek or Raemeka Gant
Manufacturing and Construction Division CB06-40
(301) 763-5160
NEW RESIDENTIAL CONSTRUCTION IN FEBRUARY 2006
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for February 2006:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 2,145,000. This is 3.2 percent (?1.1%) below the revised January rate of 2,216,000, but is 2.5 percent (?1.4%) above the February 2005 estimate of 2,093,000.
Single-family authorizations in February were at a rate of 1,639,000; this is 3.0 percent (?0.9%) below the January figure of 1,690,000. Authorizations of units in buildings with five units or more were at a rate of 417,000 in February.
HOUSING STARTS
Privately-owned housing starts in February were at a seasonally adjusted annual rate of 2,120,000. This is 7.9 percent (?8.5%)* below the revised January estimate of 2,303,000 and is 4.8 percent (?7.2%)* below the February 2005 rate of 2,228,000.
Single-family housing starts in February were at a rate of 1,800,000; this is 2.3 percent (?10.3%)* below the January figure of 1,843,000. The February rate for units in buildings with five units or more was 275,000.
HOUSING COMPLETIONS
Privately-owned housing completions in February were at a seasonally adjusted annual rate of 2,022,000. This is 1.7 percent (?8.1%)* below the revised January estimate of 2,058,000, but is 5.2 percent (?8.9%)* above the February 2005 rate of 1,922,000.
Single-family housing completions in February were at a rate of 1,699,000; this is 2.4 percent (?9.7%)* above the January figure of 1,659,000. The February rate for units in buildings with five units or more was 241,000. New Residential Construction data for March 2006 will be released on Tuesday, April 18, 2006, at 8:30 A.M. EDT.
Our Internet site is: http://www.census.gov/newresconst
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 building permit authorizations, 6 months for total starts, and 6 months 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 relative standard errors of the most recent data are shown in the tables. Whenever a statement such as ?2.5 percent (?3.2%) above? appears in the text, this indicates the range (-0.7 to +5.7 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 does not contain zero, the change is statistically significant. If it does contain zero, the change is not statistically significant; that is, it is uncertain whether there was an increase or decrease. The same policies apply to the confidence intervals for percent changes shown in the tables. On average, the preliminary seasonally adjusted estimates of total building permits, housing starts and housing completions are revised about one percent. Explanations of confidence intervals and sampling variability can be found on our web site listed above.
* 90% confidence interval includes zero. The Census Bureau does not have sufficient statistical evidence to conclude that the actual change is different from zero.
General
Illinois
