Big Rise in Housing Completions

Single-family housing completions in July were at a rate of 470,000; this is 6.1 percent (plus or minus 12.6 percent) above the revised June rate of 443,000. The July rate for units in buildings with five units or more was 158,000.

Privately-owned housing completions in July were at a seasonally adjusted annual rate of 636,000. This is 11.8 percent (plus or minus 13.7 percent) above the revised June estimate of 569,000 and is 9.5 percent (plus or minus 13.8 percent) above the July 2010 rate of 581,000. Although single unit completions decreased 1.3 percent during the past year, 5 or more units went up a whopping 62.9 percent.

Both the Northeast and Midwest regions had virtually no change in their overall completions from July of last year to July of this year. The region that fared the best was South with an overall increase of 24.9 percent and increase of 7.6 percent for single units. The West did the poorest with an overall decline of 14.7 percent and decrease of 6.9 percent for single units.

- Courtesy of US Census Bureau