Privately‐owned housing starts in the United States stood at 1,321,000 in March, decreasing by 14.7% compared to February and 4.3% compared to March 2023, according to a Census Bureau report on Tuesday.

Single‐family housing starts fell by 12.4% month-on-month to 1,022,000.

Building permits for privately owned housing units came to 1,458,000, dropping 4.3% from February. Single‐family authorizations in March were at a rate of 973,000, which was 5.7% less than in February.

Privately owned housing completions in March were at 1,469,000, 13.5% less on a monthly basis. Single‐family housing completions fell 10.5% to 947,000.