Privately-owned housing units authorized by building permits in May increased to a seasonally adjusted annual rate of 1.393 million, according to the U.S. Department of Commerce. This is 2.0% below the revised April estimate of 1.422 million and is 1.0% below the May 2024 rate of 1.407 million. Single-family authorizations in May were at a rate of 898,000; this is 2.7% below the revised April figure of 923,000. Authorizations of units in buildings with five units or more were at a rate of 444,000 in May.
Privately-owned housing starts in May were at a seasonally adjusted annual rate of 1,256,000. This is 9.8% below the revised April rate of 1,392,000 and is 4.6% below the May 2024 rate of 1,316,000. Single family housing starts in May were at a rate of 924,000; this is 0.4% above the revised April figure of 920,000. The May rate for units in buildings with five units or more was 316,000.
Housing completions were at a seasonally adjusted annual rate of 1,526,000. This is 5.4% above the revised April estimate of 1,448,000 but is 2.2% below the May 2024 rate of 1,561,000. Single-family housing completions in May were at a rate of 1,027,000; this is 8.1% above the revised April rate of 950,000. The May rate for units in buildings with five units or more was 487,000.
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