Housing Starts Dip While Building Permits are Up Slightly

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The U.S. government is reporting that that privately‐owned housing starts in May were at a seasonally adjusted annual rate of  1,269,000.  This figure is 0.9% lower than April’s revised estimate and is 4.7% lower than one year ago.  Single‐family housing starts in May were at a rate of 820k, which is 6.4% below April’s revised figure. The May rate for units in buildings with five units or more was 436k.  Privately‐owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,294,000.  This figure is 0.3% above April’s revised April rate but is 0.5% lower than one year ago.  Single‐family authorizations in May were at a rate of 815k.  Authorizations of units in buildings with five units or more were at a rate of 442k.

Click here to read the full report at Census.gov.

 

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Director of Education & Outreach, National Real Estate Investors Association

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