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In The News:

May Housing Starts Down 6.5% From April

Privately-owned housing starts in May were at a seasonally adjusted annual rate of 1,001,000. This is 6.5 percent below the revised April estimate of 1,071,000, but is 9.4 percent above the May 2013 rate of 915,000.

Single-family housing starts in May were at a rate of 625,000, 5.9 percent below the revised April figure of 664,000. The May rate for units in buildings with five units or more was 366,000.

Privately-owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 991,000. This is 6.4 percent below the revised April rate of 1,059,000 and is 1.9 percent below the May 2013 estimate of 1,010,000.

Single-family authorizations in May were at a rate of 619,000, 3.7 percent above the revised April figure of 597,000. Authorizations of units in buildings with five units or more were at a rate of 347,000 in May.

Privately-owned housing completions in May were at a seasonally adjusted annual rate of 897,000. This is 6.8 percent above the revised April estimate of 840,000 and is 24.8 percent above the May 2013 rate of 719,000.

Single-family housing completions in May were at a rate of 618,000, 2.1 percent above the revised April rate of 605,000. The May rate for units in buildings with five units or more was 269,000.

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