Census Bureau Report: Monthly New Residential Construction, May 2021

[mahatmakanejeeves]

FOR RELEASE AT 8:30 AM EDT, WEDNESDAY, JUNE 16, 2021

MONTHLY NEW RESIDENTIAL CONSTRUCTION, MAY 2021

Release Number: CB21‐97

June 16, 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:

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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.

Data Inquiries
Economic Indicators Division, Residential Construction Branch
301‐763‐5160
[e-mail]

Media Inquiries
Public Information Office
301‐763‐3030
[e-mail]

The June report is scheduled for release on July 20, 2021. View the full schedule in the Economic Briefing Room:
. The full text and tables for this release can be found at
.

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[Chainfire]

1. Anyone who has bought a 2 x 4 lately will understand why home starts are less than predicted.

I recently bought some lumber for a landscaping project. The prices were 2.5 times what I would have paid 18 months ago.