|HUD No. 15-094
Brian Sullivan, Office of Public Affairs
Raemeka Mayo or Stephen Cooper, Economic Indicators Division
July 17, 2015
HUD AND CENSUS BUREAU ANNOUNCE NEW RESIDENTIAL CONSTRUCTION ACTIVITY IN JUNE
WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for June 2015:
Privately owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 1,343,000. This is 7.4 percent (±1.2%) above the revised May rate of 1,250,000, and is 30.0 percent (±2.3%) above the June 2014 estimate of 1,033,000. Single-family authorizations in June were at a rate of 687,000; this is 0.9 percent (±1.1%) above the revised May figure of 681,000. Authorizations of units in buildings with five units or more were at a rate of 621,000 in June.
Privately owned housing starts in June were at a seasonally adjusted annual rate of 1,174,000. This is 9.8 percent (±19.9%)* above the revised May estimate of 1,069,000 and is 26.6 percent (±19.6%)* above the June 2014 rate of 927,000. Single-family housing starts in June were at a rate of 685,000; this is 0.9 percent (±11.5%)* below the revised May figure of 691,000. The June rate for units in buildings with five units or more was 476,000.
Privately owned housing completions in June were at a seasonally adjusted annual rate of 972,000. This is 6.7 percent (±13.8%)* below the revised May estimate of 1,042,000 but is 22.0 percent (±14.8%)* above the June 2014 rate of 797,000. Single-family housing completions in June were at a rate of 647,000; this is 0.3 percent (±9.3%)* below the revised May rate of 649,000. The June rate for units in buildings with five units or more was 317,000.
New Residential Construction data for July 2015 will be released on Tuesday, August 18, 2015, at 8:30 A.M. EDT.
In interpreting changes in the statistics in this release, note that month-to-month changes in seasonally adjusted statistics often show movements which may be irregular. It may take two months to establish an underlying trend for building permit authorizations, 4 months for total starts, and six months for total completions. The statistics in this release are estimated from sample surveys and are subject to sampling variability as well as nonsampling error including bias and variance from response, nonreporting, and undercoverage. Estimated relative standard errors of the most recent data are shown in the tables. Whenever a statement such as "2.5 percent (±3.2%) above" appears in the text, this indicates the range (-0.7 to +5.7 percent) in which the actual percent change is likely to have occurred. All ranges given for percent changes are 90-percent confidence intervals and account only for sampling variability. If a range does not contain zero, the change is statistically significant. If it does contain zero, the change is not statistically significant; that is, it is uncertain whether there was an increase or decrease. The same policies apply to the confidence intervals for percent changes shown in the tables. On average, the preliminary seasonally adjusted estimates of total building permits, housing starts and housing completions are revised about three percent or less. Explanations of confidence intervals and sampling variability can be found on our web site listed above.
* 90% confidence interval includes zero. The Census Bureau does not have sufficient statistical evidence to conclude that the actual change is different from zero.
Read more about today's release of housing construction activity (www.census.gov/construction/nrc/).