U.S. Census Bureau News Joint Release U.S. Department of Housing and Urban Development

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1 Raemeka Mayo or Stephen Cooper Economic Indicators Division (01) FOR IMMEDIATE RELEASE FRIDAY, JUNE 17, 016 AT 8:0 A.M. EDT NEW RESIDENTIAL CONSTRUCTION IN MAY 016 The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for May 016: BUILDING PERMITS U.S. Census Bureau News Joint Release U.S. Department of Housing and Urban Development U.S. Department of Commerce Washington, D.C. 0 CB Privately-owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,18,000. This is 0.7 percent (±1.%)* above the revised April rate of 1,10,000, but is 10.1 percent (±1.8%) below the May 015 estimate of 1,66,000. Single-family authorizations in May were at a rate of 76,000; this is.0 percent (±0.9%) below the revised April figure of 741,000. Authorizations of units in buildings with five units or more were at a rate of 81,000 in May. HOUSING STARTS Privately-owned housing starts in May were at a seasonally adjusted annual rate of 1,164,000. This is 0. percent (±14.0%)* below the revised April estimate of 1,167,000, but is 9.5 percent (±16.0%)* above the May 015 rate of 1,06,000. Single-family housing starts in May were at a rate of 764,000; this is 0. percent (±1.8%)* above the revised April figure of 76,000. The May rate for units in buildings with five units or more was 96,000. HOUSING COMPLETIONS Privately-owned housing completions in May were at a seasonally adjusted annual rate of 988,000. This is 5.1 percent (±15.5%)* above the revised April estimate of 940,000, but is.5 percent (±1.1%)* below the May 015 rate of 1,04,000. Single-family housing completions in May were at a rate of 717,000; this is. percent (±14.8%)* above the revised April rate of 701,000. The May rate for units in buildings with five units or more was 6,000. New Residential Construction data for June 016 will be released on Tuesday, July 19, 016, at 8:0 A.M. EDT. Our Internet site is: To learn more about this release and the other indicators the U.S. Census Bureau publishes, join us for the Investigating Economic Indicators Webinar Series. For more information, visit To receive the latest updates on the Nation's key economic indicators, download the America's Economy app for Apple and Android smartphones and tablets. EXPLANATORY NOTES In interpreting changes in the statistics in this release, note that month-to-month changes in seasonally adjusted statistics often show movements which may be irregular. It may take months to establish an underlying trend for building permit authorizations, 6 months for total starts, and 6 months for total completions. The statistics in this release are estimated from sample surveys and are subject to sampling variability as well as nonsampling error including bias and variance from response, nonreporting, and undercoverage. Estimated relative standard errors of the most recent data are shown in the tables. Whenever a statement such as.5 percent (±.%) above appears in the text, this indicates the range (-0.7 to +5.7 percent) in which the actual percent change is likely to have occurred. All ranges given for percent changes are 90-percent confidence intervals and account only for sampling variability. If a range does not contain zero, the change is statistically significant. If it does contain zero, the change is not statistically significant; that is, it is uncertain whether there was an increase or decrease. The same policies apply to the confidence intervals for percent changes shown in the tables. On average, the preliminary seasonally adjusted estimates of total building permits, housing starts and housing completions are revised two percent or less. Explanations of confidence intervals and sampling variability can be found on our web site listed above. * 90% confidence interval includes zero. The Census Bureau does not have sufficient statistical evidence to conclude that the actual change is different from zero.

2 Table 1. New Privately-Owned Housing Units Authorized in Permit-Issuing Places Seasonally adjusted annual rate 015: May 1, June 1, July 1, August 1, September 1, October 1, November 1, December 1, : January 1, February 1, March 1, April (r) 1, May (p) 1, Average RSE (%) May 016 from April % -.0% -.1% 6.7% -7.8% -8.9% -9.% -.5% -1.4% 0.8% 15.% -5.1% 90% Confidence Interval ± 1. ± 0.9 ± 6.6 ±.5 ±.6 ± 5.6 ± 4.8 ±.0 ± 1.4 ± 0.9 ± 1.9 ±.1 May 016 from May % 4.8% -8.8% -9.% -67.1%.0% 1.1% 1.9%.0% 7.% 0.% 1.8% 90% Confidence Interval ± 1.8 ± 1. ± 10.0 ±. ± 1.0 ± 6.7 ±.5 ± 5.1 ±.7 ± 1.6 ±.8 ±.1 014: 1, : 1, RSE (%) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) (X) 015: Year to Date : Year to Date RSE (%) Year to Date Percent Change 4.9% 10.9% 8.% -10.4% -7.% 14.5% 1.5% 15.7% 5.9% 9.% 9.7% 11.1% 90% Confidence Interval ± 0.6 ± 0.6 ± 4.9 ± 1.7 ± 1.5 ±.4 ±.7 ±.7 ± 0.6 ± 0.5 ± 1.4 ± : May June July August September October November December : January February March April (r) May (p) Average RSE (%) Reflects revisions not distributed to months. 4

3 Table. New Privately-Owned Housing Units Authorized, but Not Started, at End of Seasonally adjusted 015: May (S) June (S) July (S) August (S) September 15 6 (S) October (S) November (S) December (S) : January (S) February (S) March (r) (S) April (r) (S) May (p) (S) Average RSE (%) (X) May 016 from April % 1.5% (S) -.9% 0.0% 0.0% -5.9% 0.0% -4.% 0.0% 8.8% 6.7% 90% Confidence Interval ± 6. ± 10.8 (X) ± 6.4 ± 7.7 ± 17.6 ± 1.5 ± 17.5 ± 10.9 ± 18. ± 8. ± 11.6 May 016 from May %.1% (S) -1.4% -16.7% 0.0% 14.% 14.% -9.% -7.7% 7.0%.% 90% Confidence Interval ± 1.6 ± 9.1 (X) ±. ± 5.1 ± 6. ± 9.8 ±.1 ± 9.8 ± 9. ±.0 ± : May June July August September October November December : January February March (r) April (r) May (p) Average RSE (%) Z Relative standard error is less than 0.5 percent. Note: These data represent the number of housing units authorized in all months up to and including the last day of the reporting period and not started as of that date without regard to the months of original permit issuance. Cancelled, abandoned, expired, and revoked permits are excluded.

4 Table. New Privately-Owned Housing Units Started Seasonally adjusted annual rate 015: May 1, (S) June 1,1 686 (S) July 1, (S) August 1,1 71 (S) September 1, (S) October 1, (S) November 1, (S) December 1, (S) : January 1, (S) February 1,1 845 (S) March (r) 1, (S) April (r) 1, (S) May (p) 1, (S) Average RSE (%) (X) May 016 from April % 0.% (S) 1.% -.% 1.7% -.5% -14.7% 1.5%.6% 14.4% 1.9% 90% Confidence Interval ± 14.0 ± 1.8 (X) ± 1. ± 0.0 ±.1 ±.4 ± 1.8 ±.9 ±.8 ±.1 ±. May 016 from May % 10.1% (S) 10.0% -4.7% 1.7% 7.% 7.8% 0.7% 17.1% 1.1% -4.8% 90% Confidence Interval ± 16.0 ± 14. (X) ± 4.9 ± 1.1 ± 4.5 ± 9.5 ± 9.7 ± 9.0 ± 7.0 ± 19. ± : 1, : 1, RSE (%) : Year to Date : Year to Date RSE (%) Year to Date Percent Change 10.% 14.5% -10.%.5% -6.8% 1.% 7.4% 1.9% 15.1% 16.9% -0.5%.% 90% Confidence Interval ± 5.1 ± 4.6 ± 8.9 ± 11.9 ± 1.0 ± 14.6 ± 1.5 ± 6. ± 7.5 ± 7.0 ± 8. ± : May June July August September October November December : January February March (r) April (r) May (p) Average RSE (%)

5 Table 4. New Privately-Owned Housing Units Under Construction at End of Seasonally adjusted 015: May (S) June (S) July (S) August (S) September (S) October (S) November (S) December (S) : January (S) February (S) March (r) (S) April (r) 1, (S) May (p) 1, (S) Average RSE (%) 1 (X) May 016 from April % 0.9% (S).5% 1.6%.0% 1.4% 0.0% 1.8% 0.9%.1% 1.1% 90% Confidence Interval ± 1. ±.0 (X) ± 1.5 ± 1.8 ±. ±.1 ±.7 ±. ±.8 ± 1.8 ±. May 016 from May % 17.% (S) 16.0% 9.% 16.% 8.5% 19.0% 15.1% 19.6% 1.% 11.6% 90% Confidence Interval ±.5 ±.4 (X) ± 6. ± 10.6 ± 9.0 ± 1.8 ± 7.7 ± 4.6 ± 5. ± 5. ± : May June July August September October November December : January February March (r) April (r) 1, May (p) 1, Average RSE (%)

6 Table 5. New Privately-Owned Housing Units Completed Seasonally adjusted annual rate 015: May 1, (S) June (S) July (S) August (S) September 1, (S) October (S) November (S) December 1,0 708 (S) : January 1, (S) February 1,05 7 (S) March (r) 1,06 70 (S) April (r) (S) May (p) (S) Average RSE (%) (X) May 016 from April %.% (S) 14.% -5.% -1.7% 1.% 0.9% 5.6% 4.7% 5.5%.6% 90% Confidence Interval ± 15.5 ± 14.8 (X) ± 5.7 ± 16.1 ± 17.8 ± 6.8 ± 8.6 ± 19. ± 19.7 ± 5.1 ± 5.8 May 016 from May % 10.8% (S) -8.9% -57.8% 14.% 1.% 8.7% 8.% 1.0%.1% 8.4% 90% Confidence Interval ± 1.1 ± 1.1 (X) ± 1.6 ± 0.9 ± 8.7 ± 0.0 ± 7. ± 19.4 ± 17.9 ±.7 ±.0 014: : RSE (%) : Year to Date : Year to Date RSE (%) Year to Date Percent Change 9.0% 1.1% 15.0% 1.% -4.9% 7.% 4.9% 5.8% 10.5% 10.8% 1.7% 15.6% 90% Confidence Interval ± 6.0 ± 6.0 ± 44.6 ± 1.0 ± 4.0 ± 17.6 ± 11.1 ± 9.5 ± 7.9 ± 8.1 ± 10.9 ± : May June July August September October November December : January February March (r) April (r) May (p) Average RSE (%) (p) Prelminary. (r) Revised. RSE Relative standard error. S Does not meet publication standards because tests for identifiable and stable seasonality do not meet reliability standards.

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