Residential Building Permits Soar in July
Permits rise 6.8 percent month-over-month and nearly 30 percent year-over-year.
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for July 2012:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 812,000. This is 6.8 percent (±1.5%) above the revised June rate of 760,000 and is 29.5 percent (±1.6%) above the July 2011 estimate of 627,000.
Single-family authorizations in July were at a rate of 513,000; this is 4.5 percent (±0.8%) above the revised June figure of 491,000. Authorizations of units in buildings with five units or more were at a rate of 274,000 in July.
HOUSING STARTS
Privately-owned housing starts in July were at a seasonally adjusted annual rate of 746,000. This is 1.1 percent (±9.6%)* below the revised June estimate of 754,000, but is 21.5 percent (±14.2%) above the July 2011 rate of 614,000.
Single-family housing starts in July were at a rate of 502,000; this is 6.5 percent (±8.7%)* below the revised June figure of 537,000. The July rate for units in buildings with five units or more was 229,000.
HOUSING COMPLETIONS
Privately-owned housing completions in July were at a seasonally adjusted annual rate of 668,000. This is 7.1 percent (±15.9%)* above the revised June estimate of 624,000 and is 5.4 percent (±15.8%)* above the July 2011 rate of 634,000.
Single-family housing completions in July were at a rate of 448,000; this is 5.9 percent (±9.2%)* below the revised June rate of 476,000. The July rate for units in buildings with five units or more was 209,000.
CONTRACTOR SUPPLY MAGAZINE
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