Permits up, starts down in U.S.

WASHINGTON — The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced new residential construction statistics for February 2014. Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,018,000. This is 7.7% above the revised January rate of 945,000 and is 6.9% above the February 2013 estimate of 952,000. Privately-owned housing starts in February were at a seasonally adjusted annual rate of 907,000. This is 0.2% below the revised January estimate of 909,000 and is 6.4% below the February 2013 rate of 969,000.