Housing Starts and Building Permits Make a Positive Jump

Today the Department of Urban Housing and Development, in conjunction with the U.S. Census Bureau, released its June 2011 residential construction report showing significant improvement over May’s figures.

Housing Starts Were Up in June

Single-family housing starts in June were at a rate of 453,000; this is 9.4 percent (±11.1%)* above the revised May figure of 414,000. The June rate for units in buildings with five units or more was 170,000.

Privately-owned housing starts in June were at a seasonally adjusted annual rate of 629,000.  This is 14.6 percent (±10.9%) above the revised May estimate of 549,000 and is 16.7 percent (±11.8%) above the June 2010 rate of 539,000.

Building Permits Climbed Too

Single-family authorizations in June were at a rate of 407,000; this is 0.2 percent (±1.0%)* above the revised May figure of 406,000. Authorizations of units in buildings with five units or more were at a rate of 198,000 in June.

Privately-owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 624,000.  This is 2.5 percent (±1.3%) above the revised May rate of 609,000 and is 6.7 percent (±2.0%) above the June 2010 estimate of 585,000.

Housing Completions Were Down From May

Privately-owned housing completions in June were at a seasonally adjusted annual rate of 535,000.  This is 1.7 percent (±12.0%)* below the revised May estimate of 544,000 and is 39.3 percent (±6.6%) below the June 2010 rate of 881,000.

Single-family housing completions in June were at a rate of 436,000; this is 0.0 percent (±14.5%)* equal to the revised May rate of 436,000. The June rate for units in buildings with five units or more was 89,000.

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