Housing Completions Spike in June

Single-family housing completions in June were at a rate of 676,000; this is 31.3 percent (plus or minus 15.7 percent) above the revised May rate of 515,000, with an increase of 32.5 percent since June 2009.

Privately-owned housing completions in June were at a seasonally adjusted annual rate of 886,000. This is 26.2 percent (plus or minus15.3 percent) above the revised May estimate of 702,000 and is 11 percent (plus or minus 15.2 percent)* above the June 2009 rate of 798,000.

The June rate for units in buildings with five units or more was 202,000, down 27.1 percent since last June. The region that fared the best was the Midwest with an increase of housing completions of 32.1 percent, with an increase of 64 percent for single units. The Northeast fared the poorest with an overall decrease of 14.6 percent for housing completions, but an increase of 89.7 percent for single units.

- Courtesy of Economics and Statistics Administration