U.S. Census Bureau: Monthly New Residential Construction, June 2023

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for June 2023:

Building Permits

Privately-owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 1,440,000. This is 3.7 percent below the revised May rate of 1,496,000 and is 15.3 percent below the June 2022 rate of 1,701,000. Single-family authorizations in June were at a rate of 922,000; this is 2.2 percent above the revised May figure of 902,000. Authorizations of units in buildings with five units or more were at a rate of 467,000 in June.

Housing Starts

Privately-owned housing starts in June were at a seasonally adjusted annual rate of 1,434,000. This is 8.0 percent (±10.3 percent)* below the revised May estimate of 1,559,000 and is 8.1 percent (±9.2 percent)* below the June 2022 rate of 1,561,000. Single-family housing starts in June were at a rate of 935,000; this is 7.0 percent (±11.7 percent)* below the revised May figure of 1,005,000. The June rate for units in buildings with five units or more was 482,000.

Housing Completions

Privately-owned housing completions in June were at a seasonally adjusted annual rate of 1,468,000. This is 3.3 percent (±9.7 percent)* below the revised May estimate of 1,518,000, but is 5.5 percent (±11.0 percent)* above the June 2022 rate of 1,392,000. Single-family housing completions in June were at a rate of 986,000; this is 2.8 percent (±10.2 percent)* below the revised May rate of 1,014,000. The June rate for units in buildings with five units or more was 476,000.

The June report is scheduled for release on August 16, 2023.  View the full schedule in the Economic Briefing Room: < www.census.gov/economic-indicators/ >.  The full text and tables for this release can be found at < www.census.gov/construction/nrc/ >.

The original report can be found here.

Source: U.S. Census Bureau