Permits*

Permits for construction of new housing units were up 7 percent in the first quarter of 1998 at a seasonally adjusted annual rate of 1,578,000 units and were up 10 percent from the first quarter of 1997. One-unit permits, at 1,148,000 units, were up 7 percent from the level of the previous quarter and 9 percent from a year earlier. Multifamily permits (5 or more units in structure), at 357,000 units, were 11 percent above the fourth quarter of 1997 and 15 percent above the first quarter of 1997. Over the year 1997, 1,442,300 permits were issued, a statistically insignificant increase of 1 percent over 1996.

*Components may not add to totals because of rounding. Units in thousands. **This change is not statistically significant. Source: Bureau of the Census, Department of Commerce

Starts*

Construction starts of new housing units in the first quarter of 1998 totaled 1,590,000 units at a seasonally adjusted annual rate, a statistically insignificant 4 percent above the fourth quarter of 1997 and 8 percent above the first quarter of 1997. Single-family starts, at 1,244,000 units, were 9 percent higher than the previous quarter and 7 percent above the previous year. Multifamily starts totaled 292,000 units, a statistically insignificant 11 percent below the previous quarter but 13 percent above the same quarter in 1997. In the year 1997, 1,474,000 housing units were started, unchanged from the previous year.

*Components may not add to totals because of rounding. Units in thousands. **This change is not statistically significant. Source: Bureau of the Census, Department of Commerce

Under Construction*

Housing units under construction at the end of the first quarter of 1998 were at a seasonally adjusted annual rate of 913,000 units, 5 percent above the previous quarter and 12 percent above the first quarter of 1997. Single-family units stood at 617,000, 6 percent above the previous quarter and 9 percent above the first quarter of 1997. Multifamily units were at 263,000 units, up a statistically insignificant 1 percent from the previous quarter and up 20 percent from the first quarter of 1997.

*Components may not add to totals because of rounding. Units in thousands. **This change is not statistically significant. Sources: Bureau of the Census, Department of Commerce; and Office of Policy Development and Research, Department of Housing and Urban Development

Completions*

Housing units completed in the first quarter of 1998, at a seasonally adjusted annual rate of 1,418,000 units, were up a statistically insignificant 1 percent from the previous quarter but down 3 percent from the first quarter of 1997. Single-family completions, at 1,090,000 units, were down a statistically insignificant 1 percent from the previous quarter and down 8 percent from the rate of a year earlier. Multifamily completions, at 287,000 units, were a statistically insignificant 5 percent above the previous quarter and 14 percent above the same quarter of 1997. The revised number of completions in the year 1997 was 1,400,500 units, a statistically insignificant decrease of 1 percent from 1996's annual rate.

*Components may not add to totals because of rounding. Units in thousands. **This change is not statistically significant. Sources: Bureau of the Census, Department of Commerce; and Office of Policy Development and Research, Department of Housing and Urban Development

Manufactured (Mobile) Home Shipments*

Shipments of new manufactured (mobile) homes were at a seasonally adjusted rate of 351,000 units in the fourth quarter of 1997, which is 1 percent below the previous quarter and 1 percent below the rate of a year earlier. In the year 1997, 354,000 mobile homes were shipped, a decrease of 2 percent from the previous year.

*Units in thousands. These are HUD-code homes only and do not include manufactured housing units built to meet local building codes, which are included in housing starts figures. Source: National Conference of States on Building Codes and Standards