Housing starts jump 14.6 percent in June
Single family housing starts surge 9.4 percent.
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for June 2011:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 624,000. This is 2.5 percent (±1.3%) above the revised May rate of 609,000 and is 6.7 percent (±2.0%) above the June 2010 estimate of 585,000.
Single-family authorizations in June were at a rate of 407,000; this is 0.2 percent (±1.0%)* above the revised May figure of 406,000. Authorizations of units in buildings with five units or more were at a rate of 198,000 in June.
HOUSING STARTS
Privately-owned housing starts in June were at a seasonally adjusted annual rate of 629,000. This is 14.6 percent (±10.9%) above the revised May estimate of 549,000 and is 16.7 percent (±11.8%) above the June 2010 rate of 539,000.
Single-family housing starts in June were at a rate of 453,000; this is 9.4 percent (±11.1%)* above the revised May figure of 414,000. The June rate for units in buildings with five units or more was 170,000.
HOUSING COMPLETIONS
Privately-owned housing completions in June were at a seasonally adjusted annual rate of 535,000. This is 1.7 percent (±12.0%)* below the revised May estimate of 544,000 and is 39.3 percent (±6.6%) below the June 2010 rate of 881,000.
Single-family housing completions in June were at a rate of 436,000; this is 0.0 percent (±14.5%)* equal to the revised May rate of 436,000. The June rate for units in buildings with five units or more was 89,000.
