Privately-Owned Housing Starts, Permits, and Completions All Lower Month-Over-Month in June 2022

The U.S. Census Bureau reported on Tuesday (7-19-22) that privately‐owned housing starts in June were at a seasonally adjusted annual rate (SAAR) of 1,559,000; this is 2.0% below the revised May estimate of 1,591,000 and 6.3% below the June 2021 rate of 1,664,000. Single-family housing starts in June were at a rate of 982,000; this is 8.1% below the revised May figure of 1,068,000. The June rate for units in buildings with five units or more was 568,000.

Building permits are the forward-looking portion of the report. In June, privately-owned housing units authorized by building permits were at a SAAR of 1,685,000; this is 0.6% below the revised May rate of 1,695,000 but 1.4% above the June 2021 rate of 1,661,000. Single-family authorizations in June were at a rate of 967,000; this is 8.0% below the revised May figure of 1,051,000. Authorizations of units in buildings with five units or more were at a rate of 666,000.

Privately‐owned housing completions in June were at a seasonally adjusted annual rate of 1,365,000; this is 4.6% below the revised May estimate of 1,431,000 but 4.6% above the June 2021 rate of 1,305,000. Single‐family housing completions in June were at a rate of 996,000; this is 4.1 % below the revised May rate of 1,039,000. The June rate for units in buildings with five units or more was 366,000.