Residential
Real Estate News
New Home Construction Starts Dip in U.S., Building Permits Uptick in May

New Home Construction Starts Dip in U.S., Building Permits Uptick in May


Residentual-Home-Construction.jpg According to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD), May was a mixed-bag of economic indicators for the U.S. homebuilding industry.

Housing Starts

Privately-owned housing starts in May were at a seasonally adjusted annual rate of 708,000.  This is 4.8 percent (±12.7%) below the revised April estimate of 744,000, but is 28.5 percent (±10.7%) above the May 2011 rate of 551,000.

Single-family housing starts in May were at a rate of 516,000; this is 3.2 percent (±12.5%) above the revised April figure of 500,000.

The May rate for units in buildings with five units or more was 179,000.

Building Permits

Privately-owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 780,000.  This is 7.9 percent (±1.0%) above the revised April rate of 723,000 and is 25.0 percent (±1.5%) above the May 2011 estimate of 624,000.


Single-family authorizations in May were at a rate of 494,000; this is 4.0 percent (±0.8%) above the revised April figure of 475,000.

Authorizations of units in buildings with five units or more were at a rate of 266,000 in May.


Housing Completions


Privately-owned housing completions in May were at a seasonally adjusted annual rate of 598,000.  This is 10.3 percent (±13.2%) below the revised April estimate of 667,000, but is 10.1 percent (±14.0%) above the May 2011 rate of 543,000.


Single-family housing completions in May were at a rate of 458,000; this is 6.3 percent (±13.2%) below the revised April rate of 489,000. The May rate for units in buildings with five units or more was 130,000.


Comment with Facebook


Copyright 2010 - 2014 WORLD PROPERTY CHANNEL NETWORKS, INC. All Rights Reserved.

Luxury Property Spotlight
Harbor Place at Safety Harbor, The Jewel of Tampa Bay

Harbor Place at Safety Harbor, The Jewel of Tampa Bay

The town of Safety Harbor is a secret little hideaway known as the Jewel of Tampa Bay. Safety Harbor is neighbored by the major city of Clearwater, Florida.

Read More »


News Search
Go

Reader Poll