Single-family housing starts in May were at a rate of 924,000, according to data from the US Census Bureau and the Department of Housing and Urban Development. This is 0.4% above the revised April figure of 920,000.
Privately-owned housing starts in May were at a seasonally adjusted annual rate of 1.25 million, which is 9.8% below the revised April estimate of 1.39 million and 4.6% below the May 2024 rate of 1.31 million.
Single-family authorizations in May were at a rate of 898,000, a 2.7% below the revised April figure of 923,000. Privately-owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1.39 million, a 2% drop from the revised April rate of 1.42 million and 1% below the May 2024 rate of 1.40 million.
Single-family housing completions in May were at a rate of 1.02 million, an 8.1% surge above the revised April rate of 950,000. Privately-owned housing completions in May were at a seasonally adjusted annual rate of 1.52 million, which is 5.4% above the revised April estimate of 1.44 million but is also 2.2% below the May 2024 rate of 1.56 million.
