The 2020 Mid-Year Economic Update_long

Residential Building Permits Up 34.9% in May

And housing starts are up compared to year-ago period and the previous month, according to the latest residential construction report from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
building permits May 2021

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.

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