The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the new residential construction statistics for June 2016, showing building permits and housing starts rose from May, but remained below levels of a year ago.
Privately owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 1,153,000. This is 1.5 percent above the revised May rate, but is 13.6 percent below the June 2015 estimate. Single-family authorizations in June were at a rate of 738,000; this is 1.0 percent above the revised May figure of 731,000.
Privately owned housing starts in June were at a seasonally adjusted annual rate of 1,189,000. This is 4.8 percent above the revised May estimate, but 2 percent below the June 2015 rate. Single-family housing starts in June were at a rate of 778,000; this is 4.4 percent above the revised May figure of 745,000.
Finally, privately owned housing completions in June were at a seasonally adjusted annual rate of 1,147,000. This is 12.3 percent above the revised May estimate and is 18.7 percent above the June 2015 rate. Single-family housing completions in June were at a rate of 752,000; this is 3.7 percent above the revised May rate of 725,000.