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US housing starts rise by 6.3% in May

05.08.2021 − 

The increase in US housing starts recorded in May and June could not fully offset the 12.2% decline recorded in April. According to the housing construction statistics published by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, seasonally adjusted housing starts in the twelve months up to and including June rose by 6.3% vis à vis the adjusted May figures to 1.643 units. This means that housing starts were still 4.8% short of the peak figure of the past 15 years recorded in March (1.725m units). Building starts in construction of detached (1.160m units) and multi-family houses (474,000 units) both rose at the same rate.

In a twelve-month comparison, building approvals up to June decreased by 5.1% to 1.598m units and thus for the third consecutive time. The peak level of the past 15 years reached in January (1.883m units) was missed by 15.1%. May 2006 (1.905m units) was the last time a higher number of building approvals had been granted. Approval numbers decreased for detached houses (-6.3% to 1.063m units) as well as living units in two to four-family houses (-10.3% to 52,000 units) and multi-family houses (-1.6% to 483,000 units).

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