Equipment Type

May Housing Starts Highest Since 2007 - Up 20.3% Y2Y

Building permits fell to September 2017 level

June 19, 2018

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 2018:

Building Permits

Privately-owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,301,000. This is 4.6 percent (±1.4 percent) below the revised April rate of 1,364,000, but is 8.0 percent (±1.3 percent) above the May 2017 rate of 1,205,000.

Single-family authorizations in May were at a rate of 844,000; this is 2.2 percent (±1.0 percent) below the revised April figure of 863,000.

Authorizations of units in buildings with five units or more were at a rate of 421,000 in May.

Housing Starts

Privately-owned housing starts in May were at a seasonally adjusted annual rate of 1,350,000. This is 5.0 percent (±10.2 percent)* above the revised April estimate of 1,286,000 and is 20.3 percent (±14.4 percent) above the May 2017 rate of 1,122,000.

Single-family housing starts in May were at a rate of 936,000; this is 3.9 percent (±10.6 percent)* above the revised April figure of 901,000. The May rate for units in buildings with five units or more was 404,000.

Housing Completions

Privately-owned housing completions in May were at a seasonally adjusted annual rate of 1,291,000. This is 1.9 percent (±13.7 percent)* above the revised April estimate of 1,267,000 and is 10.4 percent (±12.1 percent)* above the May 2017 rate of 1,169,000.

Single-family housing completions in May were at a rate of 890,000; this is 11.0 percent (±12.7 percent)* above the revised April rate of 802,000.

The May rate for units in buildings with five units or more was 389,000

The June report is scheduled for release on July 18, 2018. View the full schedule in the Economic Briefing Room: <www.census.gov/economic-indicators/>. The full text and tables for this release can be found at <www.census.gov/construction/nrc/

 

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