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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 (+/<196>6) percent below the revised February rate of
1,563,000, but 1 (+/<196>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 (+/<196>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 (+/<196>4) percent.
At the end of March, the seasonally adjusted estimate of housing
units under construction was 819,000; this is 1 (+/<196>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.
| Completed by Type | Total Units | 1 | 2-4 | 5+ |
|---|---|---|---|---|
| March 97(p) | 1,400 | 1,107 | 44 | 249 |
| March 96 | 1,382 | 1,102 | 28 | 252 |
| Completed by Location | Northeast | Midwest | South | West |
| March 97(p) | 175 | 271 | 639 | 315 |
| March 96 | 97 | 303 | 627 | 355 |
May 5, 1997
U.S. Department of Commerce
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