Latest Residential Construction Numbers Are Mixed
Permits and Completions Down Year Over Year, Starts Up
The most recent report from the U.S. Census Bureau and the Department of Housing and Urban Development showed that May was an unsettled month for residential construction as all three categories had up and down performances.
Building permits for housing were at a seasonally adjusted annual rate of 1,138,000, which is 0.7 percent above the revised April rate but a full is 10.1 percent below May 2015.
Housing starts (1,164,000) on the other hand were 0.3 percent below April's figure and 9.5 percent above May of last year. Continuing the uneven trend, the housing completions rate of 988,000 was 5.1 percent above the revised April estimate but 3.5 percent below May 2015.
Single-family starts and completions were up month over month but single-family permits were down.