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News » US » Housing starts slip in May » published 19 Jun 2017

Housing starts slip in May

The number of housing starts in May was lower than both April this year and May last year, though completions rose.

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Figures for the number of building permits issued also show a fall.

May’s new residential construction statistics issued jointly by the US Census Bureau and the US Department of Housing & Urban Development show that privately-owned housing starts were at a seasonally adjusted annual rate of 1,092,000. This is 5.5% (±11.9% accounting for the estimated relative standard error) below the revised April estimate of 1,156,000 and is 2.4% (±11.4%) below the May 2016 rate of 1,119,000. Single-family housing starts in May were at a rate of 794,000; this is 3.9% (±10.4%) below the revised April figure of 826,000. The May rate for units in buildings with five units or more was 284,000.

Privately-owned housing units authorised by building permits in May were at a seasonally adjusted annual rate of 1,168,000. This is 4.9% (±0.9%) below the revised April rate of 1,228,000 and is 0.8% (±1.1%) below the May 2016 rate of 1,178,000. Single-family authorisations in May were at a rate of 779,000; this is 1.9% (±1.0%) below the revised April figure of 794,000.

Authorizations of units in buildings with five units or more were at a rate of 358,000 in May.

Privately-owned housing completions in May were at a seasonally adjusted annual rate of 1,164,000. This is 5.6% (±9.2%) above the revised April estimate of 1,102,000 and is 14.6% (±10.9%) above the May 2016 rate of 1,016,000. Single-family housing completions in May were at a rate of 817,000; this is 4.9% (±11.6%) above the revised April rate of 779,000. The May rate for units in buildings with five units or more was 335,000.

 

MPU

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This article was published on 19 Jun 2017 (last updated on 19 Jun 2017).

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