The 2020 Mid-Year Economic Update_long

May Housing Starts Increase 5.1% YOY

Privately owned housing starts down 11.1 percent compared with April.

Privately owned housing starts in May were at a seasonally adjusted annual rate of 1,036,000, according to the U.S. Census Bureau and the Department of Housing and Development. This is 11.1 percent below the revised April estimate of 1,165,000, but 5.1 percent above the May 2014 rate of 986,000.

Single-family housing starts in May were at a rate of 680,000, 5.4 percent below the revised April figure of 719,000. The May rate for units in buildings with five units or more was 349,000.

Privately owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,275,000. This is 11.8 percent above the revised April rate of 1,140,000 and 25.4 percent above the May 2014 estimate of 1,017,000.

Single-family authorizations in May were at a rate of 683,000, 2.6 percent above the revised April figure of 666,000. Authorizations of units in buildings with five units or more were at a rate of 557,000 in May.

Privately-owned housing completions in May were at a seasonally adjusted annual rate of 1,034,000. This is 4.7 percent above the revised April estimate of 988,000 and is 14.5 percent above the May 2014 rate of 903,000.

Single-family housing completions in May were at a rate of 635,000; this is 5.2 percent below the revised April rate of 670,000. The May rate for units in buildings with five units or more was 392,000.

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