Residential construction trends up in June
Permits, starts and completions all improve over May.
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for June 2016:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 1,153,000. This is 1.5 percent (±1.3%) above the revised May rate of 1,136,000, but is 13.6 percent (±0.6%) below the June 2015 estimate of 1,334,000.
Single-family authorizations in June were at a rate of 738,000; this is 1.0 percent (±1.5%)* above the revised May figure of 731,000. Authorizations of units in buildings with five units or more were at a rate of 384,000 in June.
HOUSING STARTS
Privately-owned housing starts in June were at a seasonally adjusted annual rate of 1,189,000. This is 4.8 percent (±13.5%)* above the revised May estimate of 1,135,000, but is 2.0 percent (±12.9%)* below the June 2015 rate of 1,213,000.
Single-family housing starts in June were at a rate of 778,000; this is 4.4 percent (±15.8%)* above the revised May figure of 745,000. The June rate for units in buildings with five units or more was 392,000.
HOUSING COMPLETIONS
Privately-owned housing completions in June were at a seasonally adjusted annual rate of 1,147,000. This is 12.3 percent (±10.7%) above the revised May estimate of 1,021,000 and is 18.7 percent (±14.9%) above the June 2015 rate of 966,000.
Single-family housing completions in June were at a rate of 752,000; this is 3.7 percent (±10.2%)* above the revised May rate of 725,000. The June rate for units in buildings with five units or more was 386,000.
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