US housing starts have increased again in May

In the USA, housing starts in the twelve-month period up to and including May increased by 5.0 % to 1.350 m units compared with the previous month. This means that the 3.7 % decline recorded in April could be reversed again. According to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, construction starts on single-family homes rose by 3.9 % to 936,000 units. At 404,000 units, housing starts in apartment buildings were 11.3 % higher than in the previous month.

The downward trend in building permits, which has continued since October 2017, continued in May. Accordingly, 1.301 m apartments were approved in the twelve months up to and including May; this corresponds to a decrease of 4.6 % compared to the twelve-month period up to and including April. Permits for single-family houses (-2.2 % to 844,000 units), for apartments in two to four-family houses (-12.2 % to 36,000 units) and for apartments in apartment buildings (-8.5 % to 421,000 units) fell.
Housing completions increased by 1.9 % to 1.291 m units in the period under review. The increase in completed single-family homes (+11.0 % to 890,000 units) compensated for the decline in apartments completed in apartment buildings (-14.1 % to 389,000 units). For two to four-family houses, the U.S. Census Bureau generally shows no housing starts and no completions.

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