Plumbing and Mechanical

June 19, 2007 - New Residential Construction Rates Down 2% From April '07

June 19, 2007

The U.S. Census Bureau and the Dept. of Housing and Urban Development jointly announced new residential construction statistics for May 2007.

Privately owned housing starts in May were at a seasonally adjusted annual rate of 1,474,000. This is 2.1 percent (±8.1 percent)* below the revised April estimate of 1,506,000 and is 24.2 percent (±5.1 percent) below the revised May 2006 rate of 1,944,000.

Single-family housing starts in May were at a rate of 1,170,000; this is 3.4 percent (±8.0 percent)* below the April figure of 1,211,000. The May rate for units in buildings with five units or more was 271,000.

Privately owned housing completions in May were at a seasonally adjusted annual rate of 1,534,000. This is 0.5 percent (±8.5 percent)* below the revised April estimate of 1,542,000 and is 19.3 percent (±5.4 percent) below the revised May 2006 rate of 1,901,000.

Single-family housing completions in May were at a rate of 1,302,000; this is 1.5 percent (±9.7 percent)* above the April figure of 1,283,000. The May rate for units in buildings with five units or more was 196,000.

Privately owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,501,000. This is 3.0 percent (±1.3 percent) above the revised April rate of 1,457,000, but is 21.7 percent (±1.3 percent) below the revised May 2006 estimate of 1,918,000.

Single-family authorizations in May were at a rate of 1,056,000; this is 1.8 percent (±1.3 percent) below the April figure of 1,075,000. Authorizations of units in buildings with five units or more were at a rate of 379,000 in May.

* 90 percent confidence interval includes zero. The Census Bureau does not have sufficient statistical evidence to conclude that the actual change is different from zero.