The U.S. Census Bureau and the Department of Housing and Urban Development have recently announced new residential construction statistics for July 2016. According to the data, building permits for privately-owned housing units in July were at a seasonally adjusted annual rate of 1,152,000, down 0.1 percent from the revised June rate of 1,153,000, but up 0.9 percent from the July 2015 rate of 1,142,000. Building permits for single-family housing in July were estimated at 711,000, down 3.7 percent from the revised June rate of 738,000. Building permits for units in buildings with five units or more in July were at a rate of 411,000.
Privately-owned housing starts were at an adjusted rate of 1,211,000 in July, up 2.1 percent from June’s revised estimate of 1,186,000 and up 5.6 percent from the July 2015 rate of 1,147,000. Single-family housing starts were at a rate of 770,000 in July, up 0.5 percent from the revised June rate of 766,000. Starts for units in buildings with five units or more had a July rate of 433,000.
As for housing completions, the July rate for privately-owned housing was at a seasonally adjusted annual estimate of 1,026,000, a decrease of 8.3 percent from June’s revised rate of 1,119,000, but up 3.2 percent from the July 2015 estimate of 994,000. Single-family housing completions were at a rate of 743,000 for July, putting it 0.4 percent below June’s revised rate of 746,000. The housing completion rate for units in buildings with five units or more was at 275,000 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 2016.