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The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for May 2009.
BUILDING PERMITS
- Privately-owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 518,000.
- This is 4.0 percent above the revised April rate of 498,000, but is 47.0 percent below the May 2008 estimate of 978,000.
- Single-family authorizations in May were at a rate of 408,000; this is 7.9 percent above the revised April figure of 378,000.
HOUSING STARTS
- Privately-owned housing starts in May were at a seasonally adjusted annual rate of 532,000.
- This is 17.2 percent above the revised April estimate of 454,000, but is 45.2 percent below the May 2008 rate of 971,000.
- Single-family housing starts in May were at a rate of 401,000; this is 7.5 percent above the revised April figure of 373,000.
- The May rate for units in buildings with five units or more was 124,000.
- Privately-owned housing completions in May were at a seasonally adjusted annual rate of 811,000. This is 3.3 percent.
- below the revised April estimate of 839,000 and is 28.8 percent below the May 2008 rate of 1,139,000.
- Single-family housing completions in May were at a rate of 491,000; this is 9.4 percent below the revised April figure of 542,000.
- The May rate for units in buildings with five units or more was 314,000.
 Bob DeMarco is a citizen journalist and twenty year Wall Street veteran. Bob has written more than 500 articles with more than 11,000 links to his work on the Internet. Content from All American Investor has been syndicated on Reuters, the Wall Street Journal, Fox News, Pluck, Blog Critics, and a growing list of newspaper websites. Bob is actively seeking syndication and writing assignments. |
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