New housing starts rose 5% in May to a seasonally adjusted annual rate of 1,932,000 units, according to a report released today by the Commerce Department and Department of Housing and Urban Development. Permits were 1,932,000, down 2.1% from last month and down 8.5% from one year ago.
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new
residential construction statistics for May 2006:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,932,000.
This is 2.1 percent (±1.2%) below the revised April rate of 1,973,000 and is 8.5 percent (±1.1%) below the revised May
2005 estimate of 2,111,000.
Single-family authorizations in May were at a rate of 1,466,000; this is 2.1 percent (±1.0%) below the April figure of
1,497,000. Authorizations of units in buildings with five units or more were at a rate of 383,000 in May.
HOUSING STARTS
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Privately-owned housing starts in May were at a seasonally adjusted annual rate of 1,957,000. This is 5.0 percent (±7.0%)
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above the revised April estimate of 1,863,000, but is 3.8 percent (±5.5%) below the May 2005 rate of 2,034,000.
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Single-family housing starts in May were at a rate of 1,586,000; this is 2.1 percent (±7.8%) above the April figure of
1,553,000. The May rate for units in buildings with five units or more was 321,000.
HOUSING COMPLETIONS
Privately-owned housing completions in May were at a seasonally adjusted annual rate of 1,878,000. This is 8.0 percent
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(±9.1%) below the revised April estimate of 2,041,000 and is 10.1 percent (±7.4%) below the May 2005 rate of 2,089,000.
*
Single-family housing completions in May were at a rate of 1,622,000; this is 6.0 percent (±9.9%) below the April figure
of 1,725,000. The May rate for units in buildings with five units or more was 226,000.
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