Single‐family housing starts in May were at a rate of 982,000, according to new data from the U.S. Census Bureau and the Department of Housing and Urban Development. This is 5.2% below the revised April figure of 1.03 million.
Privately‐owned housing starts in May were at a seasonally adjusted annual rate of 1.27 million, which is 5.5% below the revised April estimate of 1.35 million and 19.3% below the May 2023 rate of 1.58 million.
Single‐family authorizations in May were at a rate of 949,000, down 2.9% from the revised April figure of 977,000. Privately‐owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1.38 million, down 3.8% from the revised April rate of 1.44 million and down 9.5% from the May 2023 rate of 1.53 million.
Single‐family housing completions in May were at a rate of 1.02 million, an 8.5% drop from the revised April rate of 1.12 million. Privately‐owned housing completions in May were at a seasonally adjusted annual rate of 1.51 million, which is 8.4% below the revised April estimate of 1.65 million but is also 1% above the May 2023 rate of 1.49 million.
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