July 21, 2021

Building Permits

In June, the seasonally adjusted annual rate of privately-owned housing units authorized by building permits was 1,598,000 as per the U.S. Census Bureau. This is 5.1% (±1.1%) lower than the revised May rate of 1,683,000, but 23.3% (±0.9%) higher than the June 2020 rate of 1,296,000. The rate of single-family authorizations in June was 1,063,000, which is 6.3% (±1.4%) lower than the revised May figure of 1,134,000. In June, there were 483,000 authorizations for units in buildings with five or more units.

Housing Starts

In June, private-owned housing starts were at a seasonally adjusted annual pace of 1,643,000. This is 6.3% (±11.5%)* higher than the revised May forecast of 1,546,000 and 29.1% (±11.2%) higher than June 2020 rate of 1,273,000. In June, single-family housing starts were 1,160,000, up 6.3% (±11.7%)* from the revised May number of 1,091,000. The June rate for units in buildings of five or more units was 474,000.

Housing Completions

Privately-owned housing completions reached a seasonally adjusted annual rate of 1,324,000 in June. This is 1.4% (±10.1%)* lower than the revised May estimate of 1,343,000, but 6.5% (±13.9%)* higher than the June 2020 rate of 1,243,000. Single-family home completions were 902,000 in June, 6.1% (±10.1%)* lower than the revised May rate of 961,000. The June rate for units in buildings of five or more units was 416,000.

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