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Residential Building Permits Up 34.9% in May

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https://www.mdm.com/news/research/economic-trends/residential-building-permits-up-34-9-in-may/?utm_source=rss&utm_medium=rss&utm_campaign=residential-building-permits-up-34-9-in-may

Privately owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,681,000, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. This is 34.9% above the May 2020 rate of 1,246,000 but 3% below the revised April rate of 1,733,000.

Single-family authorizations in May were at a rate of 1,130,000; this is 1.6% below the revised April figure of 1,148,000. Authorizations of units in buildings with five units or more were at a rate of 494,000 in May.

Privately owned housing starts in May were at a seasonally adjusted annual rate of 1,572,000. This is 50.3% above the May 2020 rate of 1,046,000 and 3.6% above the revised April estimate of 1,517,000. Single-family housing starts in May were at a rate of 1,098,000; this is 4.2% above the revised April figure of 1,054,000. The May rate for units in buildings with five units or more was 465,000.

Privately owned housing completions in May were at a seasonally adjusted annual rate of 1,368,000. This is 16.1% above the May 2020 rate of 1,178,000 and 4.1% below the revised April estimate of 1,426,000. Single-family housing completions in May were at a rate of 978,000; this is 2.6% below the revised April rate of 1,004,000. The May rate for units in buildings with five units or more was 387,000.

The post Residential Building Permits Up 34.9% in May appeared first on Modern Distribution Management.

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