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Home » Distribution Industry News » May 2024 Housing Starts Fall 19.3% Year Over Year

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  • Published on: June 20, 2024

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Distribution Industry News

May 2024 Housing Starts Fall 19.3% Year Over Year

Privately owned housing starts in May were at a seasonally adjusted annual rate of 1,277,000, 5.5% below April and 19.3% below May 2023, according to the U.S. Census Bureau.  

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Single‐family housing starts in May were 5.2% below April. The May rate for units in buildings with five units or more was 278,000. 

Privately owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,386,000, 3.8% below April and 9.5% below May 2023. Single‐family authorizations in May were 2.9% below April. Authorizations of units in buildings with five units or more were at a rate of 382,000 in May. 

Privately owned housing completions in May were 8.4% below April, but 1% above May 2023. Single‐family housing completions in May were 8.5% below April. The May rate for units in buildings with five units or more was 479,000. 

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