Housing Starts Declined 14.4% in May

June 16, 2022 From Floor Focus FloorDaily News

Washington, DC, June 16, 2022 – Privately‐owned housing starts in May were at a seasonally adjusted annual rate of 1,549,000, 14.4% below the revised April estimate of 1,810,000 and 3.5% below the May 2021 rate of 1,605,000, according to the U.S. Census Bureau. Single‐family housing starts in May were at a rate of 1,051,000; this is 9.2% below the revised April figure of 1,157,000. The May rate for units in buildings with five units or more was 469,000.

Privately‐owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,695,000. This is 7.0% below the revised April rate of 1,823,000, but is 0.2% above the May 2021 rate of 1,691,000. Single‐family authorizations in May were at a rate of 1,048,000; this is 5.5% below the revised April figure of 1,109,000. Authorizations of units in buildings with five units or more were at a rate of 592,000 in May.

Privately‐owned housing completions in May were at a seasonally adjusted annual rate of 1,465,000. This is 9.1% above the revised April estimate of 1,343,000 and is 9.3% above the May 2021 rate of 1,340,000. Single‐family housing completions in May were at a rate of 1,043,000; this is 2.8% above the revised April rate of 1,015,000. The May rate for units in buildings with five units or more was 417,000.

Related Topics: U.S. Census Bureau