{"id":12320,"date":"2023-01-27T10:16:07","date_gmt":"2023-01-27T18:16:07","guid":{"rendered":"https:\/\/essential.construction\/news\/multi-family-homes-approved-but-not-started-backlog-grows\/"},"modified":"2023-01-27T10:16:08","modified_gmt":"2023-01-27T18:16:08","slug":"multi-family-homes-approved-but-not-started-backlog-grows","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/multi-family-homes-approved-but-not-started-backlog-grows\/","title":{"rendered":"Multi-family Homes Approved But Not Started: Backlog Grows"},"content":{"rendered":"

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United States of America \u2013<\/strong>Multi-family home data from the U.S. Census released today show some good news but some concerning data in it\u2019s May housing numbers as well.\u00a0 \u201cNew<\/span> Privately\u2010Owned<\/span> Housing<\/span> Units<\/span> Authorized,<\/span> but<\/span> Not<\/span> Started,<\/span> at<\/span> End<\/span> of<\/span> Period<\/span>\u201c<\/strong> in table 2a shows a consistent aggregated accumulation of a growing continued backlog of new multifamily construction projects involving more than 5 units.<\/p>\n

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May 2022 New Home Construction Report From The U.S. Census<\/h2>\n

Permits Issued For Construction In May 2022<\/h3>\n

In May, the seasonally adjusted annual rate of privately owned housing units authorized by building permits was 1,695,000. This is 7.0% lower than the revised April rate of 1,823,000, but 0.2 percent higher than the May 2021 rate of 1,691,000.<\/p>\n

Singlefamily authorizations were 1,048,000 in May, 5.5 percent lower than the revised April figure of 1,109,000.<\/p>\n

In May, there were 592,000 authorizations for units in buildings with five or more units.<\/p>\n

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Housing Starts In May 2022<\/h3>\n

In May, the seasonally adjusted annual rate of privately owned housing starts was 1,549,000. This is 14.4 percent (8.9 percent) less than the revised April estimate of 1,810,000 and 3.5 percent (10.7%) less than the May 2021 rate of 1,605,000.<\/p>\n

In May, single family housing starts totaled 1,051,000, a 9.2 percent (11.0 percent)* decrease from the revised April figure of 1,157,000.<\/p>\n

The rate in May for units in buildings with five or more units was 469,000.<\/p>\n

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Housing Completions<\/h3>\n

Privately\u2010owned housing completions in May were at a seasonally adjusted annual rate of 1,465,000. This is 9.1 percent (\u00b122.6 percent)* above the revised April estimate of 1,343,000 and is 9.3 percent (\u00b119.0 percent)* above the May 2021 rate of 1,340,000.<\/p>\n

Single\u2010family housing completions in May were at a rate of 1,043,000; this is 2.8 percent (\u00b113.6 percent)* above the revised April rate of 1,015,000.<\/p>\n

The May rate for units in buildings with five units or more was 417,000<\/p>\n

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