US building permits rise in May while housing starts and completions drop

Tuesday, 18 June 2019 22:34:50 (GMT+3)   |   San Diego
       

The US Census Bureau and the US Department of Housing and Urban Development jointly announced that 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. 

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.  

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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