Housing Starts Declined 8% in June

July 19, 2023 from Floor Focus FloorDaily News

Washington, DC, July 19, 2023 – Privately‐owned housing starts in June were at a seasonally adjusted annual rate of 1,434,000, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced, 8.0% below the revised May estimate of 1,559,000 and is 8.1% below the June 2022 rate of 1,561,000. Single‐family housing starts in June were at a rate of 935,000; this is 7.0% below the revised May figure of 1,005,000. The June rate for units in buildings with five units or more was 482,000.

Privately‐owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 1,440,000. This is 3.7% below the revised May rate of 1,496,000 and is 15.3% below the June 2022 rate of 1,701,000. Single‐family authorizations in June were at a rate of 922,000; this is 2.2% above the revised May figure of 902,000. Authorizations of units in buildings with five units or more were at a rate of 467,000 in June.

Privately‐owned housing completions in June were at a seasonally adjusted annual rate of 1,468,000. This is 3.3% below the revised May estimate of 1,518,000, but is 5.5% above the June 2022 rate of 1,392,000. Single‐family housing completions in June were at a rate of 986,000; this is 2.8% below the revised May rate of 1,014,000. The June rate for units in buildings with five units or more was 476,000.

Related Topics:U.S. Census Bureau