Single-family housing starts in May were at a rate of 516,000, a 3.2% increase above the revised April figure of 500,000, according to new data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. However, privately owned housing starts in May were at a seasonally adjusted annual rate of 708,000, which is 4.8% below the revised April estimate of 744,000 but 28.5% above the May 2011 rate of 551,000.
Privately owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 780,000, which is 7.9% above the revised April rate of 723,000 and 25% above the May 2011 estimate of 624,000. Single-family authorizations in May were at a rate of 494,000; this is 4% above the revised April figure of 475,000. Authorizations of units in buildings with five units or more were at a rate of 266,000 in May.
Privately owned housing completions in May were at a seasonally adjusted annual rate of 598,000, which is 10.3% below the revised April estimate of 667,000 but 10.1% above the May 2011 rate of 543,000. Single-family housing completions in May were at a rate of 458,000; this is 6.3% below the revised April rate of 489,000.