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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

September 20, 2022
US HOUSING STARTS AND BUILDING PERMITS, AUGUST 2022

                                                                                                                                                     

Month over month (Aug 22 vs Jul 22, seasonally adjusted annualized rates)                                                        

US residential building permits decreased 10.0% over the previous month to average 1,517,000. Single unit structures were down 3.5%. Structures with 2 to 4 units were down 9.6%. Structures with 5 units or more were down 18.5%.                                                   

US housing starts increased 12.2% over the previous month to average 1,575,000.                                                             

               

Year over year (Aug 22 vs Aug 21, seasonally adjusted annualized rates)                                                   

US residential building permits decreased 14.4% over the same month last year. Permits for single unit structures decreased 15.3%. Permits for structures with 2 to 4 units increased 9.3%. Permits for structures with 5 units or more decreased 14.5%.

US housing starts decreased 0.1% over the same month last year. Starts for single unit structures decreased 14.6%. Starts for structures with 5 or more units increased 31.0%.                                                           

                                                               

Year to date (Jan-Aug-2022 vs Jan-Aug-2021, seasonally adjusted annualized rates)                                            

US residential building permits increased 0.6% over the same period last year to average 1,749,000. Permits for single unit structures declined 7.3%. Permits for structures with 2 to 4 units decreased 0.2%. Permits structures with 5 units or more went up 19.0%. 

Housing starts are up 3.3% over the same period last year to average 1,635,000. Starts for single unit structures declined 3.4%. Starts for structures with 5 or more units increased 18.9%.          

 

Source: US Census Bureau New Residential Construction 

US Census Bureau - retrieved from FRED, Federal Reserve Bank of St. Louis. Monthly data



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