May Housing Starts Up 50.3% YOY

Washington, DC, June 16, 2021-Privately‐owned housing starts in May were at a seasonally adjusted annual rate of 1,572,000. This is 3.6% above the revised April estimate of 1,517,000 and is 50.3% above the May 2020 rate of 1,046,000. Single‐family housing starts in May were at a rate of 1,098,000; this is 4.2% above the revised April figure of 1,054,000. The May rate for units in buildings with five units or more was 465,000.

Privately‐owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,681,000. This is 3.0% below the revised April rate of 1,733,000, but is 34.9% above the May 2020 rate of 1,246,000. Single‐family authorizations in May were at a rate of 1,130,000; this is 1.6% below the revised April figure of 1,148,000. Authorizations of units in buildings with five units or more were at a rate of 494,000 in May.

Privately‐owned housing completions in May were at a seasonally adjusted annual rate of 1,368,000. This is 4.1% below the revised April estimate of 1,426,000, but is 16.1% above the May 2020 rate of 1,178,000. Single‐family housing completions in May were at a rate of 978,000; this is 2.6% below the revised April rate of 1,004,000. The May rate for units in buildings with five units or more was 387,000.