U.S. Census Bureau: Monthly New Residential Construction, July 2024

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for July 2024:

Building Permits

Privately-owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 1,396,000. This is 4.0 percent below the revised June rate of 1,454,000 and is 7.0 percent below the July 2023 rate of 1,501,000. Single-family authorizations in July were at a rate of 938,000; this is 0.1 percent below the revised June figure of 939,000. Authorizations of units in buildings with five units or more were at a rate of 408,000 in July.

Housing Starts

Privately-owned housing starts in July were at a seasonally adjusted annual rate of 1,238,000. This is 6.8 percent (±10.3 percent)* below the revised June estimate of 1,329,000 and is 16.0 percent (±10.5 percent) below the July 2023 rate of 1,473,000. Single-family housing starts in July were at a rate of 851,000; this is 14.1 percent (±8.3 percent) below the revised June figure of 991,000. The July rate for units in buildings with five units or more was 363,000.

Housing Completions

Privately-owned housing completions in July were at a seasonally adjusted annual rate of 1,529,000. This is 9.8 percent (±8.4 percent) below the revised June estimate of 1,696,000, but is 13.8 percent (±13.9 percent)* above the July 2023 rate of 1,343,000. Single-family housing completions in July were at a rate of 1,054,000; this is 0.5 percent (±10.4 percent)* above the revised June rate of 1,049,000. The July rate for units in buildings with five units or more was 473,000.

The August report is scheduled for release on September 18, 2024. View the full schedule in the Economic Briefing Room: https://www.census.gov/economic-indicators/ . The full text and tables for this release can be found at https://www.census.gov/construction/nrc/index.html.

Source: U.S. Census Bureau