A recent monthly report from the United States Census Bureau indicates that residential construction is beginning to claw back toward typical levels following steep drops in construction and permitting activities during the first months of the COVID-19 pandemic.
The report states that although building activity is still falling below levels observed in January and February of this year, new building permits, and new housing starts are both up relative to the months of March and April. Housing completions, however, fell between April and May, coinciding with the lowest levels of construction activity across the country.
According to the report, 1,220,000 single-family housing permits were issued in May, roughly 14.4% more than the revised rates reported for the month of April. This total, however, is still 8.8% lower than the number of new permits issued in May 2019. For the month, permits for new multi-family housing units, which had been booming just before the onset of the pandemic, clocked in at 434,000 new units.
Roughly 974,000 new housing units initiated construction in May, up 4.3% from April's 934,000-unit figure. This rate of construction falls 23.2% below May 2019 levels. For the multi-family market, 291,000 new units were initiated in May 2020.
Lastly, the report states that 1,115,000 single-family housing units were completed in May 2020, a figure that actually fell from the month of April, when 1,203,000 units were delivered. This 7.3% drop from April also represents a 9.3% contraction from May 2019. Only 310,000 multi-family units were completed in May 2020.
4 Comments
from what I can tell a WFH related expansion for many.
Once again compliments on the selection of images to support the article, but is that house actually under construction or are there just pigs living there that don't clean up their yard?
those columns skipped leg day
The photo shows how much work is available to young architects if they where only properly trained.
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