The U.S. Census Bureau and the Department of Housing and Urban Development have recently announced new residential construction statistics for July 2015. According to the data, building permits for privately-owned housing units in July were at a seasonally adjusted annual rate of 1,119,000, down 16.3 percent from the revised June rate of 1,337,000, but up 7.5 percent from the July 2014 rate of 1,041,000. Building permits for single-family housing in July were estimated at 679,000, down 1.9 percent from the revised June rate of 692,000. Building permits for units in buildings with five units or more in July were at a rate of 412,000.
Privately-owned housing starts were at an adjusted rate of 1,206,000 in July, up 0.2 percent from June’s revised estimate of 1,204,000 and up 10.1 percent from the July 2014 rate of 1,095,000. Single-family housing starts were at a rate of 782,000 in July, up 12.8 percent from the revised June rate of 693,000. Starts for units in buildings with five units or more had a July rate of 413,000.
As for housing completions, the July rate for privately-owned housing was at a seasonally adjusted annual estimate of 987,000, an increase of 2.4 percent from June’s revised rate of 964,000, as well as an increase of 14.6 percent from the July 2014 estimate of 861,000. Single-family housing completions were at a rate of 627,000 for July, putting it 1.4 percent below June’s revised rate of 636,000. The housing completion rate for units in buildings with five units or more was at 350,000 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 2015.