WASHINGTON -- Privately owned housing units were completed at a seasonally adjusted annual rate of 1,104,000 in March, 1.6 percent more than in February, the Commerce Department said yesterday. Completions rose 4.2 percent in February to an adjusted 1,087,000 rate. March completions were down 7.1 percent compared with March 1991.
In March, single-family completions rose 4.6 percent to an adjusted rate of 952,000. Two- to four-family units fell 53.2 percent to 22,000 and units for five or more families were unchanged at 130,000.
An estimated 81,500 units were completed in March.
The number of units under construction at the end of March was estimated at a seasonally adjusted annual rate of 666,000, up 5.2 percent from the previous month. The under-construction total included 490,000 single-family units, 24,000 two- to four-family units and 152,000 units for five or more families.