HOUSING UNITS COMPLETED IN AUGUST 1996 AT AN ANNUAL RATE OF 1,418,000 Privately owned housing completions in August were at a seasonally adjusted annual rate of 1,418,000, according to estimates released jointly today by the U.S. Commerce Department's Bureau of the Census and the U.S. Department of Housing and Urban Development. This is 2 (+/-7) percent below the revised July rate of 1,446,000, but 14 (+/-8) percent above the August 1995 estimate of 1,247,000. The August 1996 rate of single-family housing completions was 1,126,000; this is 1 (+/-7) percent below the July figure of 1,141,000. The August rate for units in buildings with five units or more was 250,000. The August rate for units in buildings with two to four units was 42,000. During the first 8 months of this year, 890,900 housing units were completed compared with 840,400 units for the same period in 1995. This is an increase of 6 (+/-2) percent. At the end of August, the seasonally adjusted estimate of housing units under construction was 827,000; this is virtually unchanged (+/-1 percent) from the revised July figure of 826,000. Of these, 598,000 units were single-family structures, 204,000 were in buildings with five units or more, and 25,000 were in buildings with two to four units. The next press release is scheduled to be issued on Tuesday, November 5, 1996, at 10:00 A.M. EST. EXPLANATORY NOTES In interpreting changes in the seasonally adjusted rate of housing completions, note that month-to-month changes often show movements which may be irregular. It may take 4 months to establish an underlying trend for total completions. The statistics in this release are estimated from sample surveys and are subject to sampling variability as well as nonsampling error including bias and variance from response, nonreporting and undercoverage. Estimated average relative standard errors of preliminary data are shown in the tables. Whenever a statement such as "2 (+/-3) percent above" appears in the text, this indicates the range (-1 to +5 percent) in which the actual percent change is likely to have occurred. All ranges given for percent changes are 90-percent confidence intervals and account only for sampling variability. If a range contains zero, it is uncertain whether there was an increase or decrease; that is, the change is not statistically significant. For any comparison cited without a confidence interval, the change is statistically significant. The December/January issue of Current Construction Reports, C22/96-1, includes explanations of confidence intervals and sampling variability. On average, the preliminary seasonally adjusted estimate of total housing completions is revised about +/-1 percent. NEW PRIVATELY OWNED HOUSING UNITS COMPLETED BY TYPE OF STRUCTURE: AUGUST 1996 In structures with -- 3 and 4 5 units Period Total 1 unit 2 units units or more Seasonally adjusted annual rate 1995 - August 1,247 1,019 26 202 September 1,267 1,009 30 228 October 1,320 1,039 25 256 November 1,360 1,081 39 240 December 1,225 1,003 30 192 1996 - January 1,403 1,113 28 262 February 1,328 1,052 32 244 March 1,391 1,112 30 249 April 1,350 1,073 26 251 May 1,408 1,120 25 263 June(r) 1,418 1,128 24 266 July(r) 1,446 1,141 29 276 AUGUST(p) 1,418 1,126 42 250 AVG. RSE (%) 4 3 18 10 Not seasonally adjusted 1994 1,346.9 1,160.3 12.1 19.5 154.9 1995 1,312.6 1,065.5 14.8 19.8 212.4 AVG. RSE (%) 1 1 13 7 2 1995 First 8 months 840.4 684.3 10.1 13.6 132.3 1996 First 8 months 890.9 703.4 7.3 12.1 168.1 AVG. RSE (%) 1 2 15 9 3 1995 - August 115.5 92.1 0.7 1.7 21.0 September 115.5 91.9 1.4 1.0 21.2 October 125.4 100.1 1.0 1.2 23.0 November 116.0 92.6 1.4 2.6 19.4 December 115.3 96.6 1.0 1.4 16.4 1996 - January 99.3 79.4 0.6 1.4 17.9 February 91.0 72.3 0.7 1.4 16.6 March 103.1 83.7 0.6 1.8 17.1 April 101.9 80.3 0.7 1.4 19.4 May 114.6 91.9 0.9 1.0 20.7 June(r) 125.9 98.0 1.0 1.0 25.9 July(r) 126.1 97.2 1.0 1.9 26.0 AUGUST(p) 129.0 100.5 1.8 2.2 24.5 AVG. RSE (%) 4 3 24 24 10 Thousands of units. Detail may not add to total because of rounding. AVG. RSE (%): Annual - Avg. RSE for the last 2 years. Year to date - Avg. RSE for the current period and the same period last year. Monthly - Avg. RSE for the latest 6-month period (January-June or July-December). (p) Preliminary. (r) Revised. (Z) Less than 50 units or less than 0.5 percent. Source: Construction Reports, Series C22, Housing Completions. The C22 report is available from the U.S. Government Printing Office. Annual Subscription: $11.00. Questions regarding these data may be directed to Erica Filipek, Construction Starts Branch, telephone (301) 457-4703. NEW PRIVATELY OWNED HOUSING UNITS COMPLETED BY LOCATION: AUGUST 1996 North- Mid- Period Total east west South West Seasonally adjusted annual rate 1995 - August 1,247 101 266 573 307 September 1,267 124 277 559 307 October 1,320 127 255 604 334 November 1,360 104 270 630 356 December 1,225 136 225 561 303 1996 - January 1,403 112 323 612 356 February 1,328 142 244 596 346 March 1,391 97 305 633 356 April 1,350 117 304 607 322 May 1,408 118 285 645 360 June(r) 1,418 127 304 634 353 July(r) 1,446 103 348 645 350 AUGUST(p) 1,418 119 312 649 338 AVG. RSE (%) 4 14 8 5 6 Not seasonally adjusted 1994 1,346.9 123.4 307.1 580.9 335.5 1995 1,312.6 126.9 287.9 581.1 316.7 AVG. RSE (%) 1 3 2 2 2 1995 First 8 months 840.4 80.5 189.2 372.2 198.5 1996 First 8 months 890.9 72.8 189.3 406.6 222.2 AVG. RSE (%) 1 3 2 3 1 1995 - August 115.5 8.8 25.8 53.5 27.3 September 115.5 11.1 27.0 49.7 27.7 October 125.4 12.7 25.9 56.2 30.6 November 116.0 9.7 25.0 51.1 30.3 December 115.3 12.9 20.8 52.0 29.6 1996 - January 99.3 8.4 21.0 43.9 26.0 February 91.0 9.2 15.2 41.9 24.7 March 103.1 6.6 20.0 49.7 26.8 April 101.9 8.8 22.9 45.9 24.3 May 114.6 9.2 22.6 53.3 29.5 June(r) 125.9 10.9 27.8 56.6 30.5 July(r) 126.1 9.5 29.9 56.1 30.7 AUGUST(p) 129.0 10.2 29.8 59.2 29.7 AVG. RSE (%) 4 14 8 5 6 Thousands of units. Detail may not add to total because of rounding. AVG. RSE (%): Annual - Avg. RSE for the last 2 years. Year to date - Avg. RSE for the current period and the same period last year. Monthly - Avg. RSE for the latest 6-month period (January-June or July-December). (p) Preliminary. (r) Revised. (Z) Less than 50 units or less than 0.5 percent. Source: Construction Reports, Series C22, Housing Completions. The C22 report is available from the U.S. Government Printing Office. Annual Subscription: $11.00. Questions regarding these data may be directed to Erica Filipek, Construction Starts Branch, telephone (301) 457-4703. NEW PRIVATELY OWNED HOUSING UNITS UNDER CONSTRUCTION AT END OF PERIOD BY TYPE OF STRUCTURE: AUGUST 1996 In structures with -- 3 and 4 5 units Period Total 1 unit 2 units units or more Seasonally adjusted 1995 - August 772 547 21 204 September 783 555 21 207 October 781 560 21 200 November 790 562 20 208 December 800 569 22 209 1996 - January 803 569 20 214 February 800 565 21 214 March 816 581 20 215 April 826 591 22 213 May 826 590 24 212 June(r) 829 596 26 207 July(r) 826 594 28 204 AUGUST(p) 827 598 25 204 AVG. RSE (%) 1 2 6 2 Not seasonally adjusted 1995 - August 808.1 579.7 8.9 12.6 206.9 September 813.4 584.7 9.1 12.7 206.8 October 811.1 583.5 8.9 13.3 205.5 November 800.5 571.9 8.7 12.1 207.8 December 775.9 547.2 8.4 12.7 207.7 1996 - January 763.7 533.7 7.6 11.9 210.4 February 765.8 533.1 7.8 11.7 213.3 March 772.8 544.0 8.1 10.8 209.9 April 813.5 578.4 9.2 13.2 212.7 May 835.2 595.5 9.7 14.4 215.7 June(r) 845.1 610.5 10.2 16.4 208.0 July(r) 855.0 621.1 10.4 17.4 206.0 AUGUST(p) 866.8 633.8 10.3 15.8 207.0 AVG. RSE (%) 1 2 10 6 2 Thousands of units. Detail may not add to total because of rounding. AVG. RSE (%): Avg. RSE for the latest 6-month period (January-June or July-December). (p) Preliminary. (r) Revised. (Z) Less than 50 units or less than 0.5 percent. Source: Construction Reports, Series C22, Housing Completions. The C22 report is available from the U.S. Government Printing Office. Annual Subscription: $11.00. Questions regarding these data may be directed to Erica Filipek, Construction Starts Branch, telephone (301) 457-4703. NEW PRIVATELY OWNED HOUSING UNITS UNDER CONSTRUCTION AT END OF PERIOD BY LOCATION: AUGUST 1996 North- Mid- Period Total east west South West Seasonally adjusted 1995 - August 772 90 159 331 192 September 783 90 162 336 195 October 781 90 165 333 193 November 790 89 170 339 192 December 800 87 175 345 193 1996 - January 803 86 177 346 194 February 800 83 181 339 197 March 816 88 180 348 200 April 826 90 180 352 204 May 826 89 180 353 204 June(r) 829 89 181 354 205 July(r) 826 91 179 353 203 AUGUST(p) 827 91 181 350 205 AVG. RSE (%) 1 5 3 2 3 Not seasonally adjusted 1995 - August 808.1 94.8 171.8 341.7 199.9 September 813.4 94.4 172.8 343.1 203.0 October 811.1 93.6 176.7 338.2 202.6 November 800.5 92.5 176.3 337.5 194.2 December 775.9 86.3 172.0 331.4 186.3 1996 - January 763.7 82.9 165.5 328.9 186.3 February 765.8 79.8 163.4 332.7 189.9 March 772.8 82.6 164.5 335.7 190.0 April 813.5 86.5 172.3 352.5 202.2 May 835.2 88.4 181.0 361.7 204.1 June(r) 845.1 90.4 183.6 363.2 208.0 July(r) 855.0 92.8 188.5 365.7 208.0 AUGUST(p) 866.8 96.0 193.7 362.9 214.2 AVG. RSE (%) 1 5 3 2 3 Thousands of units. Detail may not add to total because of rounding. AVG. RSE (%): Avg. RSE for the latest 6-month period (January-June or July-December). (p) Preliminary. (r) Revised. (Z) Less than 50 units or less than 0.5 percent. Source: Construction Reports, Series C22, Housing Completions. The C22 report is available from the U.S. Government Printing Office. Annual Subscription: $11.00. Questions regarding these data may be directed to Erica Filipek, Construction Starts Branch, telephone (301) 457-4703.