The U.S. Census Bureau and the Department of Housing and Urban Development have recently announced new residential construction statistics for July 2014. According to the data, building permits for privately-owned housing units in July were at a seasonally adjusted annual rate of 1,052,000, up 8.1 percent from the revised June rate of 973,000 and up 7.7 percent from the July 2013 rate of 977,000. Building permits for single-family housing in July were estimated at 640,000, up 0.9 percent from the revised June rate of 634,000. Building permits for units in buildings with five units or more in July were at a rate of 382,000.
Privately-owned housing starts were at an adjusted rate of 1,093,000 in July, up 15.7 percent from June’s revised estimate of 945,000 and up a significant 21.7 percent from the July 2013 rate of 898,000. Single-family housing starts were at a rate of 656,000 in July, up 8.3 percent from the revised June rate of 606,000. Starts for units in buildings with five units or more had a July rate of 423,000.
As for housing completions, the July rate for privately-owned housing was at a seasonally adjusted annual estimate of 841,000, an increase of 3.7 percent from June’s revised rate of 811,000 and up 8.0 percent from the July 2013 estimate of 779,000. Single-family housing completions were at a rate of 635,000 for July, putting it 6.2 percent above June’s revised rate of 598,000. The housing completion rate for units in buildings with five units or more was at 199,000 in July.
For more information, click here to read the full U.S. Census Bureau/U.S. Department of Housing & Urban Development Press Release for July 2014.