Privately‐owned housing starts in May were at a seasonally adjusted annual rate of 1,631,000. This is 21.7% above the revised April estimate of 1,340,000 but is 5.7% below the May 2022 rate of 1,543,000. Single‐family housing starts in May were at a rate of 997,000; this is 18.5% above the revised April figure of 841,000. The May rate for units in buildings with five units or more was 624,000.
Privately‐owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,491,000.
This is 5.2% above the revised April rate of 1,417,000 and is 12.7% below the May 2022 rate of 1,708,000. Single‐family authorizations in May were at a rate of 997,000; this is 18.5% above the revised April figure of 841,000. Authorizations of units in buildings with five units or more were at a rate of 542,000 in May.
Privately‐owned housing completions in May were at a seasonally adjusted annual rate of 1,518,000. This is 9.5% above the revised April estimate of 1,386,000 but is 5.0% above the May 2022 rate of 1,543,000. Single‐family housing completions in May were at a rate of 1,009,000; this is 3.9% above the revised April rate of 971,000. The May rate for units in buildings with five units or more was 493,000.
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