June saw a drop in US housing starts, permits, and completions

Posted on July 21, 2023   |  

In June, private housing starts fell by 8% to a seasonally adjusted annual rate of 1,434,000 compared to May's revised estimate of 1,559,000 and 8.1% compared to the June 2022 rate of 1,561,000. 

Single-family housing starts fell by 7% to a rate of 935,000 compared to the revised May figure of 1,005,000. 

Privately-owned housing units approved by building permits fell by 3.7% to a SAAR of 1,440,000 compared to May's revised rate of 1,496,000 and down 15.3% compared to June's rate of 1,701,000. 

Single-family authorizations grew by 2.2% to a rate of 922,000 compared to May's figure of 902,000. 

Housing completions fell by 3.3% to a SAAR of 1,468,000 compared to May's revised estimate of 1,518,000 but grew by 5.5% compared to the June 2022 rate of 1,392,000.