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New Residential Construction Grows
Thursday, August 20, 2015 6:40 AM

Building permits for privately-owned housing units were at a seasonally adjusted annual rate of 1,119,000 in July. This is 16.3 percent below the revised June rate of 1,337,000, but is 7.5 percent above the July 2014 estimate of 1,041,000.

Building permits for single-family homes in July were at a rate of 679,000; this is 1.9 percent below the revised June figure of 692,000.

Construction starts on privately-owned housing were at a seasonally adjusted annual rate of 1,206,000 in July. This is 0.2 percent above the revised June estimate of 1,204,000 and is 10.1 percent above the July 2014 rate of 1,095,000.

Construction starts on single-family housing in July were at a rate of 782,000; this is 12.8 percent above the revised June figure of 693,000. The July rate for units in buildings with five units or more was 413,000.

Construction completion on privately-owned housing in July were at a seasonally adjusted annual rate of 987,000. This is 2.4 percent above the revised June estimate of 964,000 and is 14.6 percent above the July 2014 rate of 861,000.

Construction completions of single-family housing in July were at a rate of 627,000; this is 1.4 percent.

Thus, gains in privately-owned housing in 2015 could be 3,312,000 units and gains on single-family housing could be 2,088,000. The difference between the two (1,224,000) yields the number of multi-family units.

 

U.S. Census Bureau, 18 August 2015