U.S. Census Bureau: Monthly New Residential Construction, May 2021

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for May 2021:

Building Permits

Privately-owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,681,000. This is 3.0 percent (±1.4 percent) below the revised April rate of 1,733,000, but is 34.9 percent (±2.4 percent) above the May 2020 rate of 1,246,000. Single-family authorizations in May were at a rate of 1,130,000; this is 1.6 percent (±0.9 percent) below the revised April figure of 1,148,000. Authorizations of units in buildings with five units or more were at a rate of 494,000 in May.

Housing Starts

Privately-owned housing starts in May were at a seasonally adjusted annual rate of 1,572,000. This is 3.6 percent (±10.3 percent)* above the revised April estimate of 1,517,000 and is 50.3 percent (±15.1 percent) above the May 2020 rate of 1,046,000. Single-family housing starts in May were at a rate of 1,098,000; this is 4.2 percent (±9.2 percent)* above the revised April figure of 1,054,000. The May rate for units in buildings with five units or more was 465,000.

Housing Completions

Privately-owned housing completions in May were at a seasonally adjusted annual rate of 1,368,000. This is 4.1 percent (±9.8 percent)* below the revised April estimate of 1,426,000, but is 16.1 percent (±10.9 percent) above the May 2020 rate of 1,178,000. Single-family housing completions in May were at a rate of 978,000; this is 2.6 percent (±7.9 percent)* below the revised April rate of 1,004,000. The May rate for units in buildings with five units or more was 387,000.

For the full May report, click here.

The June report is scheduled for release on July 20, 2021. View the full schedule in the Economic Briefing Room: <www.census.gov/economic-indicators/>. The full text and tables for this release can be found at <www.census.gov/construction/nrc/>.

Source: U.S. Census Bureau