Housing Starts Ticked Down in May, Still 9.5% Higher than May 2015 Rate

Washington, DC, June 17, 2016— Privately-owned housing starts in May were at a seasonally adjusted annual rate of 1,164,000, 0.3% below the revised April estimate of 1,167,000 but 9.5% above the May 2015 rate of 1,063,000, according to the Department of Commerce.

Single-family housing starts in May were at a rate of 764,000; this is 0.3% above the revised April figure of 762,000. The May rate for units in buildings with five units or more was 396,000.

Privately-owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,138,000. This is 0.7% above the revised April rate of 1,130,000, but is 10.1% below the May 2015 estimate of 1,266,000.

Single-family authorizations in May were at a rate of 726,000; this is 2.0% below the revised April figure of 741,000. Authorizations of units in buildings with five units or more were at a rate of 381,000 in May.

Privately-owned housing completions in May were at a seasonally adjusted annual rate of 988,000. This is 5.1% above the revised April estimate of 940,000, but is 3.5% below the May 2015 rate of 1,024,000.

Single-family housing completions in May were at a rate of 717,000; this is 2.3% above the revised April rate of 701,000. The May rate for units in buildings with five units or more was 263,000.