May Housing Starts Rose 4.3% Over April But Down 23.2% YOY

Washington, DC, June 17, 2020- Privately-owned housing starts in May were at a seasonally adjusted annual rate of 974,000, 4.3% above the revised April estimate of 934,000 but 23.2% below the May 2019 rate of 1,268,000, according to the U.S. Census Bureau. Single-family housing starts in May were at a rate of 675,000; this is 0.1% above the revised April figure of 674,000. The May rate for units in buildings with five units or more was 291,000.

Privately-owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,220,000. This is 14.4% above the revised April rate of 1,066,000, but is 8.8% below the May 2019 rate of 1,338,000. Single-family authorizations in May were at a rate of 745,000; this is 11.9% above the revised April figure of 666,000. Authorizations of units in buildings with five units or more were at a rate of 434,000 in May.

Privately-owned housing completions in May were at a seasonally adjusted annual rate of 1,115,000. This is 7.3% below the revised April estimate of 1,203,000 and is 9.3% below the May 2019 rate of 1,230,000. Single-family housing completions in May were at a rate of 791,000; this is 9.8% below the revised April rate of 877,000. The May rate for units in buildings with five units or more was 310,000.