Housing starts and completions dip in May
Single-family permits rise 3.7 percent for month.
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for May 2019:
Building Permits
Privately‐owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,294,000. This is 0.3 percent (±1.3 percent)* above the revised April rate of 1,290,000, but is 0.5 percent (±1.4 percent)* below the May 2018 rate of 1,301,000.
Single‐family authorizations in May were at a rate of 815,000; this is 3.7 percent (±1.2 percent) above the revised April figure of 786,000. Authorizations of units in buildings with five units or more were at a rate of 442,000 in May.
Housing Starts
Privately‐owned housing starts in May were at a seasonally adjusted annual rate of 1,269,000. This is 0.9 percent (±12.9 percent)* below the revised April estimate of 1,281,000 and is 4.7 percent (±8.9 percent)* below the May 2018 rate of 1,332,000.
Single‐family housing starts in May were at a rate of 820,000; this is 6.4 percent (±9.5 percent)* below the revised April figure of 876,000. The May rate for units in buildings with five units or more was 436,000.
Housing Completions
Privately‐owned housing completions in May were at a seasonally adjusted annual rate of 1,213,000. This is 9.5 percent (±13.7 percent)* below the revised April estimate of 1,340,000 and is 2.8 percent (±9.1 percent)* below the May 2018 rate of 1,248,000.
Single‐family housing completions in May were at a rate of 890,000; this is 5.0 percent (±12.7 percent)* below the revised April rate of 937,000. The May rate for units in buildings with five units or more was 319,000.
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