MONTHLY NEW RESIDENTIAL CONSTRUCTION, AUGUST 2017

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1 FOR RELEASE AT 8:30 AM EDT, TUESDAY, SEPTEMBER 19, MONTHLY NEW RESIDENTIAL CONSTRUCTION, AUGUST Release Number: CB Notice: For information on the impact of Hurricanes Harvey and Irma on the compilation of this report, please see the Frequently Asked Questions (FAQs) on our website. September 19, - The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for August : NEW RESIDENTIAL CONSTRUCTION AUGUST Building Permits: 1,300,000 Housing Starts: 1,180,000 Housing Completions: 1,075,000 Next Release: October 18, Seasonally Adjusted Annual Rate Source: U.S. Census Bureau, HUD, September 19, Thousands of Units 1,500 1, New Residential Construction (Seasonally Adjusted Annual Rate) 600 Permits 300 Starts Completions 0 Aug-12 Aug-13 Aug-14 Aug-15 Aug-16 Aug-17 Source: U.S. Census Bureau, HUD, September 19, Building Permits Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,300,000. This is 5.7 percent (±2.0 percent) above the revised July rate of 1,230,000 and is 8.3 percent (±1.6 percent) above the August rate of 1,200,000. Single-family authorizations in August were at a rate of 800,000; this is 1.5 percent (±1.3 percent) below the revised July figure of 812,000. Authorizations of units in buildings with five units or more were at a rate of 464,000 in August. Housing Starts Privately-owned housing starts in August were at a seasonally adjusted annual rate of 1,180,000. This is 0.8 percent (±9.6 percent)* below the revised July estimate of 1,190,000, but is 1.4 percent (±8.9 percent)* above the August rate of 1,164,000. Single-family housing starts in August were at a rate of 851,000; this is 1.6 percent (±9.0 percent)* above the revised July figure of 838,000. The August rate for units in buildings with five units or more was 323,000. Housing Completions Privately-owned housing completions in August were at a seasonally adjusted annual rate of 1,075,000. This is 10.2 percent (±12.3 percent)* below the revised July estimate of 1,197,000, but is 3.4 percent (±13.0 percent)* above the August rate of 1,040,000. Single-family housing completions in August were at a rate of 724,000; this is 13.3 percent (±14.7 percent)* below the revised July rate of 835,000. The August rate for units in buildings with five units or more was 348,000. Data Inquiries Media Inquiries Economic Indicators Division, Residential Construction Branch Public Information Office

2 The September report is scheduled for release on October 18,. View the full schedule in the Economic Briefing Room: < The full text and tables for this release can be found at < 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 three months to establish an underlying trend for building permit authorizations, six months for total starts, and five 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 2.5 percent (±3.2 percent) above appears in the text, this indicates the range (-0.7 to +5.7 percent) in which the actual percentage change is likely to have occurred. All ranges given for percentage 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 percentage changes shown in the tables. On average, the preliminary seasonally adjusted estimates of total building permits, housing starts and housing completions are revised 2 percent or less. Explanations of confidence intervals and sampling variability can be found on our website. < > America s Economy Mobile App The America s Economy app provides real-time updates for 19 key economic indicators released from the Census Bureau, Bureau of Labor Statistics, and Bureau of Economic Analysis. < API The Census Bureau s application programming interface lets developers create custom apps to reach new users and makes key demographic, socio-economic and housing statistics more accessible than ever before. < X * The 90 percent confidence interval includes zero. In such cases, there is insufficient statistical evidence to conclude that the actual change is different from zero. Data Inquiries Media Inquiries Economic Indicators Division, Residential Construction Branch Public Information Office

3 New Privately Owned Housing Units Authorized in Permit Issuing Places Table 1a Seasonally adjusted annual rate August , September , October , November , December , January , February , March , April , May , June , July (r) , August (p) , Average RSE (%) Aug. from Jul % 1.5% 10.0% 22.8% 13.0% 1.8% 8.8% 4.3% 3.7% 4.6% 15.3% 7.0%. 90 percent confidence interval ± 2.0 ± 1.3 ± 24.7 ± 6.0 ± 3.4 ± 7.0 ± 5.3 ± 2.6 ± 3.6 ± 2.0 ± 4.0 ± 5.8 Aug. from Aug % 7.7% 0.0% 10.2% 8.5% 9.4% 3.6% 0.0% 6.6% 5.9% 27.0% 16.4%. 90 percent confidence interval ± 1.6 ± 2.3 ± 7.5 ± 1.7 ± 3.2 ± 6.3 ± 4.6 ± 8.2 ± 2.0 ± 1.8 ± 4.0 ± 6.7 Table 1b Not seasonally adjusted 2015 Annual , Annual , RSE (%) X X X X X X X X X X X X Year to date Year to date RSE (%) Year to date percent change² % 10.7% 8.5% 1.4% 9.1% 5.6% 4.3% 6.2% 6.4% 12.1% 11.3% 11.8%. 90 percent confidence interval ± 0.6 ± 0.8 ± 7.4 ± 1.2 ± 2.6 ± 3.5 ± 3.1 ± 2.7 ± 0.8 ± 0.6 ± 0.9 ± 2.1 August September October November December January February March April May June July (r) August (p) Average RSE (%) If the 90 percent confidence interval includes zero, there is insufficient evidence to conclude that the actual change is different from zero Note: Year to date permits estimates reflect revisions not distrubuted to months. Source: U.S. Census Bureau and U.S. Department of Housing and Urban Development, New Residential Construction, September 19,.

4 New Privately Owned Housing Units Authorized, but Not Started, at End of Table 2a Seasonally adjusted August S September S October S November S December S January S February S March S April S May S June (r) S July (r) S August (p) S Average RSE (%) X Aug. from Jul % 0.0% S 16.7% 8.3% 20.0% 0.0% 0.0% 11.4% 2.3% 5.3% 0.0%. 90 percent confidence interval ± 4.7 ± 5.9 X ± 9.5 ± 7.4 ± 12.9 ± 9.5 ± 17.4 ± 7.2 ± 8.3 ± 8.1 ± 7.4 Aug. from Aug % 11.3% S 18.6% 18.8% 0.0% 23.5% 11.1% 23.8% 10.3% 14.3% 17.6%. 90 percent confidence interval ± 11.6 ± 9.0 X ± 22.3 ± 36.0 ± 21.9 ± 28.2 ± 30.2 ± 16.2 ± 10.8 ± 19.3 ± 18.3 Table 2b Not seasonally adjusted August September October November December January February March April May June (r) July (r) August (p) Average RSE (%) 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. Source: U.S. Census Bureau and U.S. Department of Housing and Urban Development, New Residential Construction, September 19,.

5 New Privately Owned Housing Units Started Table 3a Seasonally adjusted annual rate August , S September , S October , S November , S December , S January , S February , S March , S April , S May , S June (r) , S July (r) , S August (p) , S Average RSE (%) X Aug. from Jul % 1.6% S 5.8% 8.7% 1.5% 22.0% 4.3% 7.9% 1.3% 4.0% 6.5%. 90 percent confidence interval ± 9.6 ± 9.0 X ± 27.3 ± 20.2 ± 28.7 ± 27.1 ± 19.1 ± 17.4 ± 14.8 ± 13.4 ± 14.2 Aug. from Aug % 17.1% S 23.1% 21.1% 26.9% 17.6% 2.7% 0.2% 22.8% 4.3% 14.6%. 90 percent confidence interval ± 8.9 ± 8.3 X ± 21.5 ± 22.1 ± 33.5 ± 24.8 ± 18.0 ± 14.3 ± 14.9 ± 18.1 ± 11.1 Table 3b Not seasonally adjusted 2015 Annual , Annual , RSE (%) Year to date Year to date RSE (%) Year to date percent change² % 8.9% 17.8% 9.7% 6.3% 2.7% 2.2% 6.8% 1.1% 8.3% 10.0% 13.9%. 90 percent confidence interval ± 3.0 ± 2.5 ± 26.6 ± 9.3 ± 9.3 ± 9.2 ± 8.2 ± 5.5 ± 4.5 ± 3.8 ± 6.7 ± 5.6 August September October November December January February March April May June (r) July (r) August (p) Average RSE (%) Source: U.S. Census Bureau and U.S. Department of Housing and Urban Development, New Residential Construction, September 19,.

6 New Privately Owned Housing Units Under Construction at End of Table 4a Seasonally adjusted August , S September , S October , S November , S December , S January , S February , S March , S April , S May , S June (r) , S July (r) , S August (p) , S Average RSE (%) X Aug. from Jul % 2.2% S 0.7% 0.5% 0.0% 2.0% 0.0% 1.6% 3.2% 1.0% 2.6%. 90 percent confidence interval ± 0.7 ± 1.4 X ± 1.4 ± 2.3 ± 2.8 ± 2.0 ± 3.4 ± 1.7 ± 2.3 ± 1.3 ± 2.8 Aug. from Aug % 10.5% S 0.8% 2.6% 2.0% 12.5% 10.0% 0.4% 9.6% 13.1% 17.0%. 90 percent confidence interval ± 3.3 ± 3.0 X ± 5.9 ± 9.3 ± 7.4 ± 10.4 ± 6.6 ± 5.2 ± 3.9 ± 6.7 ± 6.6 Table 4b Not seasonally adjusted August , September , October , November , December , January , February , March , April , May , June (r) , July (r) , August (p) , Average RSE (%) Source: U.S. Census Bureau and U.S. Department of Housing and Urban Development, New Residential Construction, September 19,.

7 New Privately Owned Housing Units Completed Table 5a Seasonally adjusted annual rate August , S September , S October , S November , S December , S January , S February , S March , S April , S May , S June (r) , S July (r) , S August (p) , S Average RSE (%) X Aug. from Jul % 13.3% S 2.0% 29.4% 21.1% 1.1% 12.0% 22.2% 20.8% 4.3% 6.3%. 90 percent confidence interval ± 12.3 ± 14.7 X ± 29.2 ± 61.0 ± 40.4 ± 33.0 ± 33.6 ± 17.1 ± 18.3 ± 16.8 ± 31.4 Aug. from Aug % 2.7% S 20.8% 8.5% 4.8% 15.3% 21.0% 9.2% 12.9% 23.3% 9.9%. 90 percent confidence interval ± 13.0 ± 12.8 X ± 28.6 ± 43.8 ± 34.3 ± 29.1 ± 24.8 ± 18.8 ± 15.7 ± 17.6 ± 25.7 Table 5b Not seasonally adjusted 2015 Annual Annual , RSE (%) Year to date Year to date RSE (%) Year to date percent change² % 8.2% 3.4% 16.6% 16.9% 4.4% 7.5% 5.0% 8.6% 7.0% 14.6% 15.0%. 90 percent confidence interval ± 4.5 ± 3.8 ± 29.0 ± 11.9 ± 13.0 ± 12.4 ± 9.7 ± 6.0 ± 6.5 ± 4.7 ± 6.9 ± 8.2 August September October November December January February March April May June (r) July (r) August (p) Average RSE (%) Source: U.S. Census Bureau and U.S. Department of Housing and Urban Development, New Residential Construction, September 19,.

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