New Residential Construction in U.S. Upticks in June, Highest Levels Since October 2008

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According to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD), June was a good month for home builders.

Here are the latest Government stats for June 2012 released today for the U.S. home construction sector:

BUILDING PERMITS

Privately-owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 755,000.  This is 3.7 percent (±1.0%) below the revised May rate of 784,000, but is 19.3 percent (±1.8%) above the June 2011 estimate of 633,000.

Single-family authorizations in June were at a rate of 493,000; this is 0.6 percent (±0.8%) above the revised May figure of 490,000.

Authorizations of units in buildings with five units or more were at a rate of 241,000 in June.

HOUSING STARTS

Privately-owned housing starts in June were at a seasonally adjusted annual rate of 760,000.  This is 6.9 percent (±13.3%) above the revised May estimate of 711,000 and is 23.6 percent (±16.8%) above the June 2011 rate of 615,000.

Single-family housing starts in June were at a rate of 539,000; this is 4.7 percent (±10.1%) above the revised May figure of 515,000.

The June rate for units in buildings with five units or more was 213,000.

HOUSING COMPLETIONS

Privately-owned housing completions in June were at a seasonally adjusted annual rate of 622,000.  This is 2.6 percent (±12.5%) above the revised May estimate of 606,000 and is 7.2 percent (±13.2%) above the June 2011 rate of 580,000.

Single-family housing completions in June were at a rate of 470,000; this is 1.3 percent (±9.8%) above the revised May rate of 464,000.

The June rate for units in buildings with five units or more was 134,000.