Housing Starts Move Higher in May; Housing Permits and Housing Completions Move Lower

The U.S. Census Bureau has reported that privately‐owned housing starts in May were at a seasonally adjusted annual rate (SAAR) of 1,572,000. This is 3.6% above the revised April rate of 1,517,000 and is 50.3% above the May 2020 rate of 1,046,000. Single-family housing starts in May were at a rate of 1,098,000 — 4.2% above the revised April figure. The May rate for units in buildings with five units or more was 465,000.

Building Permits are the forward-looking portion of the report, and in May privately-owned housing units authorized by building permits were at a SAAR of 1,681,000. This is -3.0% below the revised April rate of 1,733,000 but is 34.9% above the May 2020 rate. Single-family authorizations in May were at a rate of 1,130,000 — -1.6% below the revised April figure of 1,148,000. Authorizations of units in buildings with five units or more were at a rate of 494,000.

Privately‐owned housing completions in May were at a seasonally adjusted annual rate of 1,368,000. This is -4.1% below the revised April estimate of 1,426,000, but is 16.1% above the May 2020 rate. Single‐family housing completions in May were at a rate of 978,000; this is -2.6 % below the revised April rate of 1,004,000. The May rate for units in buildings with five units or more was 387,000.


FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.
Original Source:
MONTHLY NEW RESIDENTIAL CONSTRUCTION, MAY 2021