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June 18, 2019US HOUSING STARTS AND BUILDING PERMITS, MAY 2019
US residential building permits rose 0.3 per cent in May compared to the revised April estimate, to a seasonally adjusted annual rate of 1,294,000. This is 0.5 per cent below the May 2018 estimate of 1,301,000.
Year over year (May 2019 vs May 2018), permits for single unit structures declined 3.3 per cent, while permits for structures with 2 to 4 units rose 8.8 per cent and permits for structures with 5 or more units increased by 4.2 per cent.
Year-to-date (Jan-May 2019 vs Jan-May 2018), building permits are down 3.7 per cent. Permits are down for single unit structures (-6.0 per cent) and structures with 2 to 4 units (-3.4 per cent). Permits for structures with 5 units or more were up 0.6 per cent in January to May 2019.
US housing starts decreased 0.9 per cent in May compared to the revised April estimate, to a seasonally adjusted annual rate of 1,269,000 units. This is 4.7 per cent below the May 2018 estimate of 1,332,000. Year over year (May 2019 vs May 2018), starts for single unit structures declined 12.5 per cent, while starts for structures with 5 or more units increased 13.8 per cent .
Year-to-date (Jan-May 2019 vs Jan-May 2018), housing starts are down 5.7 per cent with declines in starts for single unit structures (-4.9 per cent) and structures with 5 or more units (-6.9 per cent).
Source: US Census Bureau New Residential Construction
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