Each month the US Census Bureau publishes preliminary estimates of Building Permits, Housing Starts, Housing Completions. The US Census Bureau releases these estimates to provide government and private data users with early measures of new privately owned residential construction and new residential sales activity. A necessary part of the process of issuing these early data involves the issuance of subsequent revisions. The revisions are primarily the result of the replacement of imputed data with data which are reported in subsequent months.
The "Range" shows the largest decrease (or smallest increase if no months revised down) and largest increase (or smallest decrease if no months revised up) over the 12 months. The "Average" is the arithmetic mean of all 12 months. Ideally, this would be zero if the positive and negative revisions equaled each other. The "Absolute Average" is the arithmetic mean of the absolute value of the revision. This indicates the average size of revision without regard to sign.
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