U.S. Government Reports No Change in New Home Construction Numbers for June

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The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for June 2010:

BUILDING PERMITS

Privately-owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 586,000. This is 2.1percent (±2.1%) above the revised May rate of 574,000, but is 2.3 percent (±2.0%) below the June 2009 estimate of 600,000.

Single-family authorizations in June were at a rate of 421,000; this is 3.4 percent (±1.8%) below the revised May figure of 436,000. Authorizations of units in buildings with five units or more were at a rate of 145,000 in June.

HOUSING STARTS

Privately-owned housing starts in June were at a seasonally adjusted annual rate of 549,000. This is 5.0 percent (±13.2%) below the revised May estimate of 578,000 and is 5.8 percent (±10.5%)* below the June 2009 rate of 583,000.

Single-family housing starts in June were at a rate of 454,000; this is 0.7 percent (±10.7%) below the revised May figure of 457,000. The June rate for units in buildings with five units or more was 88,000.

HOUSING COMPLETIONS

Privately-owned housing completions in June were at a seasonally adjusted annual rate of 886,000. This is 26.2 percent (±15.3%) above the revised May estimate of 702,000 and is 11.0 percent (±15.2%)* above the June 2009 rate of 798,000.

Single-family housing completions in June were at a rate of 676,000; this is 31.3 percent (±15.7%) above the revised May rate of 515,000. The June rate for units in buildings with five units or more was 202,000.

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