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

Building Permits

Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,475,000. This is 4.9 percent above the revised July rate of 1,406,000, but is 6.5 percent below the August 2023 rate of 1,578,000. Single-family authorizations in August were at a rate of 967,000; this is 2.8 percent above the revised July figure of 941,000. Authorizations of units in buildings with five units or more were at a rate of 451,000 in August.

Housing Starts

Privately-owned housing starts in August were at a seasonally adjusted annual rate of 1,356,000. This is 9.6 percent (±11.4 percent)* above the revised July estimate of 1,237,000 and is 3.9 percent (±13.0 percent)* above the August 2023 rate of 1,305,000. Single-family housing starts in August were at a rate of 992,000; this is 15.8 percent (±12.0 percent) above the revised July figure of 857,000. The August rate for units in buildings with five units or more was 333,000.

Housing Completions

Privately-owned housing completions in August were at a seasonally adjusted annual rate of 1,788,000. This is 9.2 percent (±28.2 percent)* above the revised July estimate of 1,637,000 and is 30.2 percent (±31.9 percent)* above the August 2023 rate of 1,373,000. Single-family housing completions in August were at a rate of 1,029,000; this is 5.6 percent (±11.9 percent)* below the revised July rate of 1,090,000. The August rate for units in buildings with five units or more was 740,000.

The September report is scheduled for release on October 18, 2024. 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/contruction/nrc/> .

Source: U.S. Census Bureau