February 2022 Residential Construction – US Census Bureau 

Total new housing permits are up +7.7% from February last year and down –1.9% from last month. Single family home permits are down –0.5% from last month and up 5.4% from this time last year. Multi-family units are up +12% from last February but saw a –4.5% decline from last month. 

Housing units authorized but not started are up +0.4% from last month and +25.8% from last year. Single-family units not started are up +2.0% from last month and +24.6% from last year. Multi-family units remain consistent with the single-family market over the 1-year period, up +27.2%; over the past month multi-family units approved but not started declined –2.5%. 

Units started are up +6.8% total from last month and +22.3% from last year. Single family housing is up +5.7% from last month and +13.7% over the past year. Multi-family housing is up marginally from last month +0.8% but has grown +37.3% from last year.  Units under construction at the end of period also has risen by +1.9% total from last month and +22.8% from last year. Single family units under construction are up +1.3% over the 1-month and +28.3% over the 1-year. Multi-family units are up +2.4% from last month and 17.6% from last year.  

Completions from last February were up +5.9% in total, +12.1% from last month for single family homes and down –11.3% from last month for multi-family units. Over the 1 year total completions are down –2.8% in total, up +1.7% for single family units and down -16.9% for multi-family.