Building Permits in U.S. Jump 23% in April Over Last Year

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According to the U.S. Census Bureau and the Department of Housing and Urban Development's (HUD) new residential construction statistics for April 2012, building permits in U.S. spiked 23.7% in April over last year's numbers.

Privately-owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 715,000. This is 7.0 percent (±1.0%) below the revised March rate of 769,000, but is 23.7 percent (±1.9%) above the revised April 2011 estimate of 578,000.

Single-family authorizations in April were at a rate of 475,000; this is 1.9 percent (±1.1%) above the revised March figure of 466,000. Authorizations of units in buildings with five units or more were at a rate of 217,000 in April.

Housing Starts

Privately-owned housing starts in April were at a seasonally adjusted annual rate of 717,000.  This is 2.6 percent (±14.8%) above the revised March estimate of 699,000 and is 29.9 percent (±15.2%) above the revised April 2011 rate of 552,000.

Single-family housing starts in April were at a rate of 492,000; this is 2.3 percent (±11.9%) above the revised March figure of 481,000. The April rate for units in buildings with five units or more was 217,000.

Housing Completions

Privately-owned housing completions in April were at a seasonally adjusted annual rate of 651,000.  This is 10.0 percent (±16.7%) above the revised March estimate of 592,000 and is 20.1 percent (±18.0%) above the revised April 2011 rate of 542,000.

Single-family housing completions in April were at a rate of 489,000; this is 11.4 percent (±13.6%) above the revised March figure of 439,000. The April rate for units in buildings with five units or more was 158,000.