The U.S. Census Bureau and the Department of Housing and Urban Development have recently announced new residential construction statistics for June 2014. According to the data, building permits for privately-owned housing units in June were at a seasonally adjusted annual rate of 963,000, down 4.2 percent from the revised May rate of 1,005,000, but up 2.7 percent from the June 2013 rate of 938,000. Building permits for single-family housing in June were estimated at 631,000, up 2.6 percent from the revised May rate of 615,000. Building permits for units in buildings with five units or more in June were at a rate of 301,000.
Privately-owned housing starts were at an adjusted rate of 893,000 in June, down 9.3 percent from May’s revised estimate of 985,000, but up 7.5 percent from the June 2013 rate of 831,000. Single-family housing starts were at a rate of 575,000 in June, down 9.0 percent from the revised May rate of 632,000. Starts for units in buildings with five units or more had a June rate of 305,000.
As for housing completions, the June rate for privately-owned housing was at a seasonally adjusted annual estimate of 789,000, a decrease of 12.0 percent from May’s revised rate of 897,000, but up 3.4 percent from the June 2013 estimate of 763,000. Single-family housing completions were at a rate of 586,000 for June, putting it 6.5 percent below May’s revised rate of 627,000. The housing completion rate for units in buildings with five units or more was at 198,000 in June.
For more information, click here to read the full U.S. Census Bureau/U.S. Department of Housing & Urban Development Press Release for June 2014.