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 2016:

BUILDING PERMITS

Privately owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 1,153,000. This is 1.5 percent (±1.3%) above the revised May rate of 1,136,000, but is 13.6 percent (±0.6%) below the June 2015 estimate of 1,334,000. Single-family authorizations in June were at a rate of 738,000; this is 1.0 percent (±1.5%)* above the revised May figure of 731,000. Authorizations of units in buildings with five units or more were at a rate of 384,000 in June.

HOUSING STARTS

Privately owned housing starts in June were at a seasonally adjusted annual rate of 1,189,000. This is 4.8 percent (±13.5%)* above the revised May estimate of 1,135,000, but is 2.0 percent (±12.9%)* below the June 2015 rate of 1,213,000. Single-family housing starts in June were at a rate of 778,000; this is 4.4 percent (±15.8%)* above the revised May figure of 745,000. The June rate for units in buildings with five units or more was 392,000.

HOUSING COMPLETIONS

Privately owned housing completions in June were at a seasonally adjusted annual rate of 1,147,000. This is 12.3 percent (±10.7%) above the revised May estimate of 1,021,000 and is 18.7 percent (±14.9%) above the June 2015 rate of 966,000. Single-family housing completions in June were at a rate of 752,000; this is 3.7 percent (±10.2%)* above the revised May rate of 725,000. The June rate for units in buildings with five units or more was 386,000.

New Residential Construction data for July 2016 will be released on Tuesday, August 16, 2016, at 8:30 A.M. EDT.

EXPLANATORY NOTES

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/).

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