Single-family housing starts in May were at a rate of 882,000, according to data from the US Census Bureau and the Department of Housing and Urban Development. This is 1.9% below the revised April figure of 899,000.
Privately-owned housing starts in May were at a seasonally adjusted annual rate of 1.17 million. This is 15.4% below the revised April estimate of 1.39 million and is 8.7% below the May 2025 rate of 1.28 million.
Single-family authorizations in May were at a rate of 886,000, a 0.6% uptick from the revised April figure of 881,000. Privately-owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1.413 million, a 0.7% dip from the revised April rate of 1.423 million and a scant 0.2% below the May 2025 rate of 1.416 million.
Single-family housing completions in May were at a rate of 872,000, a 1.6% decline from the revised April rate of 886,000. Privately-owned housing completions in May were at a seasonally adjusted annual rate of 1.31 million, which is 8.1% below the revised April estimate of 1.42 million and 14.2% below the May 2025 rate of 1.53 million.
“The decline in housing starts aligns with NAHB’s latest builder survey, which showed builder sentiment weakening further in June,” said Bill Owens, chairman of the National Association of Home Builders and a home builder and remodeler from Worthington, Ohio. “Elevated mortgage rates, affordability challenges and cautious buyers continue to weigh on demand for new homes. Builders are offering incentives and cutting prices, but difficult market conditions are still limiting sustained momentum for new construction.”
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