The US Census Bureau and the Department of Housing and Urban Development jointly announced Tuesday new residential construction statistics for May 2013.
Privately-owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 974,000. This is 3.1 percent below the revised April rate of 1,005,000, but is 20.8 percent above the May 2012 estimate of 806,000. Single-family authorizations in May were at a rate of 622,000; this is 1.3 percent above the revised April figure of 614,000. Authorizations of units in buildings with five units or more were at a rate of 325,000 in May.
Privately-owned housing starts in May were at a seasonally adjusted annual rate of 914,000. This is 6.8 percent above the revised April estimate of 856,000 and is 28.6 percent above the May 2012 rate of 711,000. Single-family housing starts in May were at a rate of 599,000; this is 0.3 percent above the revised April figure of 597,000. The May rate for units in buildings with five units or more was 306,000.
Privately-owned housing completions in May were at a seasonally adjusted annual rate of 690,000. This is 0.9 percent below the revised April estimate of 696,000, but is 12.6 percent above the May 2012 rate of 613,000. Single-family housing completions in May were at a rate of 546,000; this is 4.2 percent above the revised April rate of 524,000. The May rate for units in buildings with five units or more was 135,000.