The U.S. Census Bureau and the Department of Housing and Urban Development have recently announced new residential construction statistics for June 2016. According to the data, building permits for privately-owned housing units in June were at a seasonally adjusted annual rate of 1,153,000, up 1.5 percent from the revised May rate of 1,136,000, but down 13.6 percent from the June 2015 rate of 1,334,000. Building permits for single-family housing in June were estimated at 738,000, up 1.0 percent from the revised May rate of 731,000. Building permits for units in buildings with five units or more in June were at a rate of 384,000.
Privately-owned housing starts were at an adjusted rate of 1,189,000 in June, up 4.8 percent from May’s revised estimate of 1,135,000, but down 2.0 percent from the June 2015 rate of 1,213,000. Single-family housing starts were at a rate of 778,000 in June, up 4.4 percent from the revised May rate of 745,000. Starts for units in buildings with five units or more had a June rate of 392,000.
As for housing completions, the June rate for privately-owned housing was at a seasonally adjusted annual estimate of 1,147,000, an increase of 12.3 percent from May’s revised rate of 1,021,000 and up 18.7 percent from the June 2015 estimate of 966,000. Single-family housing completions were at a rate of 752,000 for June, putting it 3.7 percent above May’s revised rate of 725,000. The housing completion rate for units in buildings with five units or more was at 386,000 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 2016.