Jul 17, 2013
Latest Census/HUD data looks pretty good for housing construction
17 Jul 2013
Posted by Andrew Kantor
A bit of good news from the Census Bureau and HUD, which released the latest information on residential construction.
Building permits are up, housing completions are up some, and housing starts are probably up, according to the latest data from the Census Bureau.
Here are the data (you can view the PDF of the full report by clicking here):
Building permits were up 16.1 percent (±1.7%) in June compared to the year before.*
Housing starts in June were up 10.4 percent (±14.9%) compared to June 2012 — but that "±14.9%" means the actual figure could be up 25.3 percent or down 4.5 percent, or anywhere in between. So better to wait for revised numbers.
Ditto housing completions, which were up 20.2 percent (±12.3%) in June from the year before (so they may have been up as little as 7.9 percent, but they are up.)
*They were down 7.5 percent from May, but we don’t care as much about month-to-month changes. Also, June’s numbers are preliminary and May’s are revised, so it’s better to wait till revised June numbers are released before comparing them.