Housing Starts Plummet 12%

Housing Starts Collapse in June

By Jeff Sorg, OnlineEd Blog

(July 18, 2018)

(Washington, D.C.) US Department of HUD – 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 2018. Here’s how they stack up:

Building Permits
Privately-owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 1,273,000. This is 2.2 percent (±1.2 percent) below the revised May rate of 1,301,000 and is 3.0 percent (±1.1 percent) below the June 2017 rate of 1,312,000. Single-family authorizations in June were at a rate of 850,000; this is 0.8 percent (±1.5 percent)* above the revised May figure of 843,000. Authorizations of units in buildings with five units or more were at a rate of 387,000 in June.

Housing Starts
Privately-owned housing starts in June were at a seasonally adjusted annual rate of 1,173,000. This is 12.3 percent (±8.3 percent) below the revised May estimate of 1,337,000 and is 4.2 percent (±10.2 percent)* below the June 2017 rate of 1,225,000. Single-family housing starts in June were at a rate of 858,000; this is 9.1 percent (±8.8 percent) below the revised May figure of 944,000. The June rate for units in buildings with five units or more was 304,000.

Housing Completions
Privately-owned housing completions in June were at a seasonally adjusted annual rate of 1,261,000. This is 0.0 percent (±11.3 percent)* below the revised May estimate of 1,261,000, but is 2.2 percent (±14.5 percent)* above the June 2017 rate of 1,234,000. Single-family housing completions in June were at a rate of 862,000; this is 2.3 percent (±8.4 percent)* below the revised May rate of 882,000. The June rate for units in buildings with five units or more was 393,000.

[View the complete report.]

###

OnlineEd blog postings are the personal opinion of the author and not intended as legal or other professional advice. Be sure to consult the appropriate party when professional advice is needed.

For more information about OnlineEd and their education for real estate brokers, principal brokers, property managers, and mortgage brokers visit www.OnlineEd.com.

All information contained in this posting is deemed correct as of the date of publication, but is not guaranteed by the author and may have been obtained from third-party sources. Due to the fluid nature of the subject matter, regulations, requirements and laws, prices and all other information may or may not be correct in the future and should be verified if cited, shared or otherwise republished.

OnlineEd® is a registered Trademark

Jeff Sorg is a co-founder of OnlineEd®, a Web-based vocational school founded in 1997 where he also serves as Corporate Secretary, Chief Operating Officer, and School Director. Sorg holds vocational instructor licenses in Oregon, Washington, California, and Nevada and has authored numerous pre-licensing and continuing education courses. Sorg was awarded the International Distance Education Certification Center’s CDEi Designation for distance education in 2008-2018.

OnlineEd® provides real estate, mortgage broker, insurance, and contractor pre-license, post-license, continuing education, career enhancement, and professional development and designation courses over the Internet.