Residential Real Estate News
New Home Construction Numbers Jump in June
(News Source: U.S. Department of Housing and Urban Development)
(WASHINGTON, D.C.) -- The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for June 2009:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 563,000. This is 8.7 percent (±3.0%) above the revised May rate of 518,000, but is 52.0 percent (±3.6%) below the June 2008 estimate of 1,174,000.
Single-family authorizations in June were at a rate of 430,000; this is 5.9 percent (±1.4%) above the revised May figure of 406,000.
Authorizations of units in buildings with five units or more were at a rate of 109,000 in June.
HOUSING STARTS
Privately-owned housing starts in June were at a seasonally adjusted annual rate of 582,000. This is 3.6 percent (±11.3%) above the revised May estimate of 562,000, but is 46.0 percent (±4.3%) below the June 2008 rate of 1,078,000.
Single-family housing starts in June were at a rate of 470,000; this is 14.4 percent (±11.8%) above the revised May figure of 411,000.
The June rate for units in buildings with five units or more was 101,000.
HOUSING COMPLETIONS
Privately-owned housing completions in June were at a seasonally adjusted annual rate of 818,000. This is 0.4 percent (±15.7%) below the revised May estimate of 821,000 and is 27.7 percent (±9.0%) below the June 2008 rate of 1,131,000. Single-family housing completions in June were at a rate of 538,000; this is 8.9 percent
