The U.S. Census Bureau and the Department of Housing and Urban Development have recently announced new residential construction statistics for August 2015. According to the data, building permits for privately-owned housing units in August were at a seasonally adjusted annual rate of 1,170,000, up 3.5 percent from the revised July rate of 1,130,000 and up 12.5 percent from the August 2014 rate of 1,040,000. Building permits for single-family housing in August were estimated at 699,000, up 2.8 percent from the revised July rate of 680,000. Building permits for units in buildings with five units or more in August were at a rate of 440,000.
Privately-owned housing starts were at an adjusted rate of 1,126,000 in August, down 3.0 percent from July’s revised estimate of 1,161,000, but up 16.6 percent from the August 2014 rate of 966,000. Single-family housing starts were at a rate of 739,000 in August, down 3.0 percent from the revised July rate of 762,000. Starts for units in buildings with five units or more had an August rate of 381,000.
As for housing completions, the August rate for privately-owned housing was at a seasonally adjusted annual estimate of 935,000, a decrease of 6.1 percent from July’s revised rate of 996,000, but is up 3.3 percent from the August 2014 estimate of 905,000. Single-family housing completions were at a rate of 646,000 for August, putting it 1.6 percent above July’s revised rate of 636,000. The housing completion rate for units in buildings with five units or more was at 283,000 in August.
For more information, click here to read the full U.S. Census Bureau/U.S. Department of Housing & Urban Development Press Release for August 2015.