by Calculated Risk on 7/18/2025 08:30:00 AM
From the Census Bureau: Permits, Starts and Completions
Housing Starts:
Privately-owned housing starts in June were at a seasonally adjusted annual rate of 1,321,000. This is 4.6 percent above the revised May estimate of 1,263,000, but is 0.5 percent below the June 2024 rate of 1,327,000. Single-family housing starts in June were at a rate of 883,000; this is 4.6 percent below the revised May figure of 926,000. The June rate for units in buildings with five units or more was 414,000.Building Permits:
Privately-owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of
1,397,000. This is 0.2 percent above the revised May rate of 1,394,000, but is 4.4 percent below the June 2024 rate
of 1,461,000. Single-family authorizations in June were at a rate of 866,000; this is 3.7 percent below the revised
May figure of 899,000. Authorizations of units in buildings with five units or more were at a rate of 478,000 in June.
emphasis added
The first graph shows single and multi-family housing starts since 2000.
Multi-family starts (blue, 2+ units) increased sharply month-over-month in June. Multi-family starts were up 26.6% year-over-year.
Single-family starts (red) decreased in June and were down 10.0% year-over-year.
Total housing starts in June were above expectations and starts in April and May were revised up.
I’ll have more later …