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 1,220,000. This is 14.4 percent (±1.1 percent) above the revised April rate of 1,066,000, but is 8.8 percent (±1.0 percent) below the May 2019 rate of 1,338,000.
Single-family authorizations in May were at a rate of 745,000; this is 11.9 percent (±1.9 percent) above the revised April figure of 666,000. Authorizations of units in buildings with five units or more were at a rate of 434,000 in May.
Privately-owned housing starts in May were at a seasonally adjusted annual rate of 974,000. This is 4.3 percent (±15.5 percent) above the revised April estimate of 934,000, but is 23.2 percent (±6.2 percent) below the May 2019 rate of 1,268,000.
Single-family housing starts in May were at a rate of 675,000; this is 0.1 percent (±11.9 percent) above the revised April figure of 674,000. The May rate for units in buildings with five units or more was 291,000.
Privately-owned housing completions in May were at a seasonally adjusted annual rate of 1,115,000. This is 7.3 percent (±12.3 percent) below the revised April estimate of 1,203,000 and is 9.3 percent (±9.8 percent) below the May 2019 rate of 1,230,000.
Single-family housing completions in May were at a rate of 791,000; this is 9.8 percent (±11.5 percent) below the revised April rate of 877,000. The May rate for units in buildings with five units or more was 310,000.