For release 10:00 A.M., EST, Wednesday, December 4, 1997 CB97-198 HOUSING UNITS COMPLETED IN OCTOBER 1997 AT AN ANNUAL RATE OF 1,391,000 Privately owned housing completions in October were at a seasonally adjusted annual rate of 1,391,000, 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 3 (+/-7) percent below the revised September rate of 1,431,000, but 1 (+/-7) percent above the October 1996 estimate of 1,375,000. The October 1997 rate of single-family housing completions was 1,056,000; this is 7 (+/-7) percent below the revised September rate of 1,141,000. The October rate for units in buildings with five units or more was 290,000. The October rate for units in buildings with two to four units was 45,000. During the first 10 months of this year 1,142,900 housing units were completed compared with 1,148,300 units for the same period in 1996. This is a decrease of less than 1 (+/-2) percent. At the end of October, the seasonally adjusted estimate of housing units under construction was 853,000; this is 1(+/-1) percent above the revised September figure of 843,000. Of these, 578,000 units were single-family structures, 248,000 were in buildings with five units or more, and 27,000 were in buildings with two to four units. The next press release is scheduled to be issued on Thursday, January 8, 1998, 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 January 1997 issue of Current Construction Reports, C22/97-1 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: OCTOBER 1997 In structures with -- 3 and 4 5 units Period Total 1 unit 2 units units or more Seasonally adjusted annual rate 1996 - October 1,375 1,129 26 220 November 1,431 1,151 43 237 December 1,484 1,177 45 262 1997 - January 1,362 1,109 18 235 February 1,572 1,267 50 255 March 1,471 1,156 44 271 April 1,460 1,158 50 252 May 1,388 1,101 38 249 June 1,318 1,096 34 188 July 1,320 1,069 34 217 August(r) 1,325 1,053 36 236 September(r) 1,431 1,141 42 248 OCTOBER(p) 1,391 1,056 45 290 AVG. RSE (%) 3 3 7 9 Not seasonally adjusted 1995 1,312.6 1,065.5 14.8 19.8 212.4 1996 1,412.9 1,128.5 13.6 19.5 251.3 AVG. RSE (%) 1 1 11 7 2 1996 First 10 months 1,148.3 915.4 9.7 15.2 208.0 1997 First 10 months 1,142.9 910.4 11.0 20.5 201.1 AVG. RSE (%) 1 1 8 9 3 1996 - October 129.9 108.5 1.0 1.0 19.4 November 122.7 99.2 2.5 2.0 19.1 December 141.8 113.9 1.4 2.4 24.2 1997 - January 95.7 78.9 0.3 1.0 15.5 February 104.8 84.8 1.1 2.3 16.7 March 109.6 87.4 1.2 2.4 18.6 April 110.8 86.8 1.4 2.7 19.8 May 113.6 90.1 1.3 1.7 20.4 June 113.8 94.2 1.1 1.5 17.0 July 112.8 89.2 0.8 2.3 20.5 August(r) 121.2 94.3 1.5 1.6 23.8 September(r) 129.1 103.6 1.0 2.7 21.8 OCTOBER(p) 131.4 100.9 1.2 2.4 26.9 AVG. RSE (%) 3 3 17 18 9 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. NEW PRIVATELY OWNED HOUSING UNITS COMPLETED BY LOCATION: OCTOBER 1997 North- Mid- Period Total east west South West Seasonally adjusted annual rate 1996 - October 1,375 131 274 642 328 November 1,431 144 328 639 320 December 1,484 137 322 681 344 1997 - January 1,362 117 316 588 341 February 1,572 163 338 715 356 March 1,471 193 290 654 334 April 1,460 120 302 691 347 May 1,388 161 286 596 345 June 1,318 126 277 582 333 July 1,320 128 288 585 319 August(r) 1,325 121 299 575 330 September(r) 1,431 142 296 686 307 OCTOBER(p) 1,391 112 301 632 346 AVG. RSE (%) 3 9 7 5 5 Not seasonally adjusted 1995 1,312.6 126.9 287.9 581.1 316.7 1996 1,412.9 125.1 304.5 637.1 346.2 AVG. RSE (%) 1 3 2 2 1 1996 First 10 months 1,148.3 98.3 244.2 520.1 285.6 1997 First 10 months 1,142.9 110.3 242.0 516.5 274.1 AVG. RSE (%) 1 3 3 2 1 1996 - October 129.9 13.2 27.1 59.7 30.0 November 122.7 13.5 30.0 52.3 27.0 December 141.8 13.3 30.3 64.7 33.6 1997 - January 95.7 8.5 21.2 41.6 24.4 February 104.8 10.5 20.5 49.0 24.7 March 109.6 13.4 19.0 51.9 25.4 April 110.8 8.6 23.1 52.8 26.2 May 113.6 12.7 22.8 49.0 29.0 June 113.8 10.7 24.5 50.4 28.3 July 112.8 11.3 24.3 49.7 27.5 August(r) 121.2 10.2 28.7 52.6 29.8 September(r) 129.1 13.2 28.1 60.9 26.9 OCTOBER(p) 131.4 11.0 29.9 58.5 32.0 AVG. RSE (%) 3 9 7 5 5 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. NEW PRIVATELY OWNED HOUSING UNITS UNDER CONSTRUCTION AT END OF PERIOD BY TYPE OF STRUCTURE: OCTOBER 1997 In structures with -- 3 and 4 5 units Period Total 1 unit 2 units units or more Seasonally adjusted 1996 - October 825 588 26 211 November 828 584 28 216 December 815 571 28 216 1997 - January 818 573 29 216 February 821 574 28 219 March 814 566 27 221 April 812 563 26 223 May 815 564 26 225 June 829 566 26 237 July 837 571 24 242 August(r) 836 569 25 242 September(r) 843 572 25 246 OCTOBER(p) 853 578 27 248 AVG. RSE (%) 1 2 8 3 Not seasonally adjusted 1996 - October 855.1 614.0 10.8 16.7 213.6 November 843.3 596.7 9.3 19.2 218.2 December 792.3 550.0 9.0 19.1 214.3 1997 - January 777.2 536.2 9.1 19.0 212.8 February 763.7 524.1 9.1 17.5 213.1 March 772.9 530.7 8.7 17.5 216.0 April 799.8 551.2 8.9 16.5 223.2 May 820.0 566.6 8.9 16.2 228.3 June 845.0 579.7 8.7 17.3 239.3 July 864.9 596.9 9.5 16.0 242.6 August(r) 869.6 601.8 9.4 16.4 242.0 September(r) 878.7 606.5 10.4 15.5 246.4 OCTOBER(p) 884.2 606.2 10.5 17.2 250.4 AVG. RSE (%) 1 2 8 16 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. NEW PRIVATELY OWNED HOUSING UNITS UNDER CONSTRUCTION AT END OF PERIOD BY LOCATION: OCTOBER 1997 North- Mid- Period Total east west South West Seasonally adjusted 1996 - October 825 89 183 352 201 November 828 86 182 355 205 December 815 86 180 350 199 1997 - January 818 88 179 352 199 February 821 86 182 351 202 March 814 84 179 349 202 April 812 84 178 349 201 May 815 83 179 349 204 June 829 82 182 359 206 July 837 82 183 363 209 August(r) 836 82 180 367 207 September(r) 843 83 182 369 209 OCTOBER(p) 853 83 183 376 211 AVG. RSE (%) 1 3 4 2 2 Not seasonally adjusted 1996 - October 855.1 92.4 195.1 357.2 210.3 November 843.3 88.8 191.1 356.5 207.0 December 792.3 85.2 178.0 337.6 191.4 1997 - January 777.2 84.8 167.0 335.8 189.6 February 763.7 80.1 162.3 333.1 188.2 March 772.9 77.8 164.9 336.6 193.6 April 799.8 82.1 169.6 348.4 199.7 May 820.0 81.4 178.0 356.3 204.3 June 845.0 82.2 185.5 367.1 210.1 July 864.9 85.3 190.9 375.4 213.3 August(r) 869.6 86.5 190.0 379.1 214.1 September(r) 878.7 86.9 191.7 380.2 220.0 OCTOBER(p) 884.2 86.9 194.9 381.5 220.9 AVG. RSE (%) 1 3 4 2 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. The following data will appear in tables 1 through 6 of the Current Construction Reports, "Housing Completions: October 1997." Table 1. New Privately Owned Housing Units Completed (Thousands of units. Detail may not add to total because of rounding) In structures with: 3&4 5 units Period Total 1 unit 2 units units or more ANNUAL DATA 1987 1,668.8 1,122.8 29.0 42.4 474.6 1988 1,529.8 1,084.6 23.5 33.2 388.6 1989 1,422.8 1,026.3 24.1 34.6 337.9 1990 1,308.0 966.0 16.5 28.2 297.3 1991 1,090.8 837.6 16.9 19.7 216.6 1992 1,157.5 963.6 15.1 20.8 158.0 1993 1,192.7 1,039.4 9.5 16.7 127.1 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 1996 1,412.9 1,128.5 13.6 19.5 251.3 MONTHLY DATA Not Seasonally Adjusted 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 125.9 98.0 1.0 1.0 25.9 July 126.3 97.6 1.0 1.9 25.9 August 134.1 104.1 1.8 2.1 26.1 September 122.1 99.6 1.2 2.3 19.0 October 129.9 108.5 1.0 1.0 19.4 November 122.7 99.2 2.5 2.0 19.1 December 141.8 113.9 1.4 2.4 24.2 1997: January 95.7 78.9 0.3 1.0 15.5 February 104.8 84.8 1.1 2.3 16.7 March 109.6 87.4 1.2 2.4 18.6 April 110.8 86.8 1.4 2.7 19.8 May 113.6 90.1 1.3 1.7 20.4 June 113.8 94.2 1.1 1.5 17.0 July 112.8 89.2 0.8 2.3 20.5 August\r 121.2 94.3 1.5 1.6 23.8 September\r 129.1 103.6 1.0 2.7 21.8 October\p 131.4 100.9 1.2 2.4 26.9 Year to date: 1996 1,148.3 915.4 9.7 15.2 208.0 1997 1,142.9 910.4 11.0 20.5 201.1 MONTHLY DATA Seasonally Adjusted Annual Rate 2-4 5 units Period Total 1 unit units or more 1996: January 1,427 1,130 28 269 February 1,329 1,050 31 248 March 1,382 1,102 28 252 April 1,351 1,074 26 251 May 1,409 1,124 25 260 June 1,426 1,137 24 265 July 1,463 1,161 30 272 August 1,449 1,153 43 253 September 1,356 1,097 40 219 October 1,375 1,129 26 220 November 1,431 1,151 43 237 December 1,484 1,177 45 262 1997: January 1,362 1,109 18 235 February 1,572 1,267 50 255 March 1,471 1,156 44 271 April 1,460 1,158 50 252 May 1,388 1,101 38 249 June 1,317 1,095 34 188 July 1,320 1,069 34 217 August\r 1,325 1,053 36 236 September\r 1,431 1,141 42 248 October\p 1,391 1,056 45 290 AVERAGE RELATIVE STANDARD ERRORS\2 Annual...(%) 1 1 11 7 2 Monthly..(%) 3 3 17 18 9 Year to date..(%) 1 1 9 8 3 See footnotes at end of table. Table 1. New Privately Owned Housing Units Completed - Continued (Thousands of units. Detail may not add to total because of rounding) Inside Outside Period Total MSA's\1 MSA's\1 Northeast Midwest South West ANNUAL DATA 1987 1,668.8 1,420.4 248.4 257.4 302.3 660.4 448.7 1988 1,529.8 1,286.1 243.7 250.2 280.3 594.8 404.6 1989 1,422.8 1,181.2 241.7 218.8 267.1 549.4 387.5 1990 1,308.0 1,060.2 247.7 157.7 263.3 510.7 376.3 1991 1,090.8 862.1 228.7 120.1 240.4 438.9 291.3 1992 1,157.5 909.5 248.0 136.4 268.4 462.4 290.3 1993 1,192.7 943.0 249.8 117.6 273.3 512.0 290.0 1994 1,346.9 1,086.3 260.6 123.4 307.1 580.9 335.5 1995 1,312.6 1,065.0 247.6 126.9 287.9 581.1 316.7 1996 1,412.9 1,163.4 249.4 125.1 304.5 637.1 346.2 MONTHLY DATA Not Seasonally Adjusted 1996: January 99.3 81.9 17.4 8.4 21.0 43.9 26.0 February 91.0 76.3 14.7 9.2 15.2 41.9 24.7 March 103.1 85.2 17.9 6.6 20.0 49.7 26.8 April 101.9 86.4 15.6 8.8 22.9 45.9 24.3 May 114.6 97.0 17.6 9.2 22.6 53.3 29.5 June 125.9 102.0 23.9 10.9 27.8 56.6 30.5 July 126.3 104.3 22.0 9.3 29.9 56.3 30.8 August 134.1 111.0 23.1 11.0 30.3 61.4 31.4 September 122.1 98.4 23.7 11.7 27.4 51.3 31.7 October 129.9 105.1 24.8 13.2 27.1 59.7 30.0 November 122.7 98.3 24.4 13.5 30.0 52.3 27.0 December 141.8 117.6 24.3 13.3 30.3 64.7 33.6 1997: January 95.7 79.1 16.6 8.5 21.2 41.6 24.4 February 104.8 85.7 19.1 10.5 20.5 49.0 24.7 March 109.6 90.7 19.0 13.4 19.0 51.9 25.4 April 110.8 89.4 21.4 8.6 23.1 52.8 26.2 May 113.6 93.8 19.8 12.7 22.8 49.0 29.0 June 113.8 95.9 18.0 10.7 24.5 50.4 28.3 July 112.8 94.6 18.2 11.3 24.3 49.7 27.5 August\r 121.2 100.0 21.2 10.2 28.7 52.6 29.8 September\r 129.1 107.2 21.9 13.2 28.1 60.9 26.9 October\p 131.4 103.1 28.3 11.0 29.9 58.5 32.0 Year to date: 1996 1,148.3 947.6 200.8 98.3 244.2 520.1 285.6 1997 1,142.9 939.5 203.5 110.3 242.0 516.5 274.1 Seasonally Adjusted Annual Rate Inside Outside Period Total MSA's\1 MSA's\1 Northeast Midwest South West 1996: January 1,427 (NA) (NA) 114 332 622 359 February 1,329 (NA) (NA) 137 247 592 353 March 1,382 (NA) (NA) 97 303 627 355 April 1,351 (NA) (NA) 117 302 612 320 May 1,409 (NA) (NA) 118 283 645 363 June 1,426 (NA) (NA) 127 304 639 356 July 1,463 (NA) (NA) 105 351 656 351 August 1,449 (NA) (NA) 126 313 661 349 September 1,356 (NA) (NA) 132 285 586 353 October 1,375 (NA) (NA) 131 274 642 328 November 1,431 (NA) (NA) 144 328 639 320 December 1,484 (NA) (NA) 137 322 681 344 1997: January 1,362 (NA) (NA) 117 316 588 341 February 1,572 (NA) (NA) 163 338 715 356 March 1,471 (NA) (NA) 193 290 654 334 April 1,460 (NA) (NA) 120 302 691 347 May 1,388 (NA) (NA) 161 286 596 345 June 1,317 (NA) (NA) 126 276 582 333 July 1,320 (NA) (NA) 128 288 585 319 August\r 1,325 (NA) (NA) 121 299 575 330 September\r 1,431 (NA) (NA) 142 296 686 307 October\p 1,391 (NA) (NA) 112 301 632 346 AVERAGE RELATIVE STANDARD ERRORS\2 Annual...(%) 1 1 3 3 2 2 1 Monthly..(%) 3 3 9 9 7 5 5 Year to date..(%) 1 1 4 3 3 2 1 NA Not available. p Preliminary. r Revised. 1 Metropolitan statistical areas. 2 Average Relative Standard Errors (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). Table 2. New Privately Owned Housing Units Completed by Location and Type of Structure (Thousands of units. Detail may not add to total because of rounding) Period United States Inside MSA's\1 Outside MSA's\1 In structures In structures In structures with with with 5 units 5 units 5 units Total\2 1 unit or more Total\2 1 unit or more Total\2 1 unit or more ANNUAL DATA 1977.... 1,657 1,258 304 1,162 838 254 495 421 50 1978.... 1,868 1,369 382 1,314 907 322 554 462 60 1979.... 1,871 1,301 445 1,332 858 382 539 443 63 1980.... 1,502 957 426 1,079 633 359 423 324 67 1981.... 1,266 819 336 888 530 278 377 289 57 1982.... 1,006 632 293 708 409 241 297 223 52 1983.... 1,390 924 374 1,074 674 326 316 249 49 1984.... 1,652 1,025 515 1,317 771 460 336 255 55 1985.... 1,703 1,072 534 1,422 853 491 281 220 43 1986.... 1,756 1,120 550 1,502 918 513 254 202 37 1987.... 1,669 1,123 475 1,420 917 444 248 206 30 1988.... 1,530 1,085 389 1,286 876 365 244 208 24 1989.... 1,423 1,026 338 1,181 823 312 242 203 25 1990.... 1,308 966 297 1,060 759 267 248 207 30 1991.... 1,091 838 217 862 642 194 229 196 22 1992.... 1,158 964 158 910 752 133 248 212 25 1993.... 1,193 1,039 127 943 818 106 250 222 21 1994.... 1,347 1,160 155 1,086 929 135 261 232 20 1995.... 1,313 1,066 212 1,065 848 191 248 217 21 1996.... 1,413 1,129 251 1,163 913 226 249 215 25 QUARTERLY DATA 1993 1st qtr... 245 212 28 194 167 24 51 45 5 2nd qtr... 286 247 33 222 191 27 64 56 6 3rd qtr... 317 275 34 255 220 29 63 55 6 4th qtr... 345 305 32 273 240 27 73 66 5 1994 1st qtr... 270 238 25 219 193 21 51 46 3 2nd qtr... 336 291 37 274 236 32 63 55 5 3rd qtr... 361 308 45 292 246 40 70 62 6 4th qtr... 379 323 48 302 254 42 77 69 6 1995 1st qtr... 291 246 37 233 194 33 59 52 4 2nd qtr... 318 258 51 258 207 45 60 52 6 3rd qtr... 346 272 65 284 219 59 62 53 6 4th qtr... 357 289 59 289 229 54 67 60 5 1996 1st qtr... 293 235 52 243 192 47 50 44 5 2nd qtr... 342 270 66 285 222 59 57 48 7 3rd qtr... 382 301 71 314 243 64 69 59 7 4th qtr... 394 322 63 321 257 57 74 65 6 1997 1st qtr... 310 251 51 255 204 45 55 47 5 2nd qtr... 338 271 57 279 221 51 59 51 6 3rd qtr\r. 363 287 66 302 236 59 61 52 7 AVERAGE RELATIVE STANDARD ERRORS\3 Annual(%) 1 1 2 1 1 2 3 4 9 Qtrly (%) 2 2 6 2 2 6 5 4 34 See footnotes at end of table. Table 2. New Privately Owned Housing Units Completed by Location and Type of Structure - Continued (Thousands of units. Detail may not add to total because of rounding) Period Northeast Midwest In structures with In structures with Total\2 1 unit 5+ units Total\2 1 unit 5+ units ANNUAL DATA 1977... 177 135 33 400 300 78 1978... 182 141 32 417 300 90 1979... 188 135 43 415 294 95 1980... 146 100 38 274 170 80 1981... 127 87 31 218 140 57 1982... 120 79 35 143 92 38 1983... 139 106 25 201 142 46 1984... 168 129 30 221 156 50 1985... 214 168 33 230 151 65 1986... 254 193 47 270 170 84 1987... 257 196 47 302 201 86 1988... 250 188 50 280 191 76 1989... 219 159 48 267 191 62 1990... 158 127 23 263 195 57 1991... 120 100 14 240 185 45 1992... 136 114 18 268 218 40 1993... 118 105 10 273 232 33 1994... 123 113 7 307 255 42 1995... 127 108 16 288 232 44 1996... 125 108 14 304 245 48 QUARTERLY DATA 1993 1st qtr... 24 21 2 51 42 9 2nd qtr... 27 24 2 64 55 7 3rd qtr... 29 26 2 74 63 9 4th qtr... 37 34 3 83 73 8 1994 1st qtr... 22 21 1 57 47 7 2nd qtr... 31 27 3 76 62 12 3rd qtr... 35 32 3 84 72 11 4th qtr... 35 33 1 90 75 13 1995 1st qtr... 30 26 3 62 51 8 2nd qtr... 29 25 3 75 59 14 3rd qtr... 33 27 6 79 61 15 4th qtr... 35 30 4 72 62 7 1996 1st qtr... 24 21 3 56 45 9 2nd qtr... 29 25 3 73 55 16 3rd qtr... 32 28 3 88 68 16 4th qtr... 40 34 5 87 76 8 1997 1st qtr... 32 27 5 61 48 10 2nd qtr... 32 28 3 70 57 10 3rd qtr\r. 35 30 4 81 63 15 AVERAGE RELATIVE STANDARD ERRORS\3 Annual (%) 3 3 5 2 2 5 Quarterly (%) 5 6 17 5 4 23 See footnotes at end of table. Table 2. New Privately Owned Housing Units Completed by Location and Type of Structure - Continued (Thousands of units. Detail may not add to total because of rounding) Period South West In structures with In structures with Total\2 1 unit 5+ units Total\2 1 unit 5+ units ANNUAL DATA 1977... 636 512 102 444 311 92 1978... 752 571 150 517 357 111 1979... 762 535 187 506 337 120 1980... 696 455 196 386 233 113 1981... 626 408 165 294 183 82 1982... 539 340 156 203 121 64 1983... 746 476 220 305 200 83 1984... 867 508 298 396 233 137 1985... 812 514 254 447 239 182 1986... 764 505 226 469 253 193 1987... 660 467 171 449 259 170 1988... 595 457 121 405 248 142 1989... 549 420 112 387 257 115 1990... 511 389 109 376 255 108 1991... 439 348 81 291 205 76 1992... 462 400 52 290 232 49 1993... 512 456 49 290 247 35 1994... 581 507 64 336 285 42 1995... 581 472 99 317 253 54 1996... 637 507 120 346 269 69 QUARTERLY DATA 1993 1st qtr... 109 99 9 60 50 8 2nd qtr... 121 105 14 74 62 10 3rd qtr... 139 123 13 74 63 9 4th qtr... 143 128 13 82 71 8 1994 1st qtr... 119 107 10 73 63 8 2nd qtr... 146 130 13 83 72 9 3rd qtr... 152 131 18 90 74 14 4th qtr... 164 139 23 90 77 11 1995 1st qtr... 130 110 18 69 58 9 2nd qtr... 140 114 22 74 60 12 3rd qtr... 152 121 28 82 64 16 4th qtr... 159 126 30 90 71 17 1996 1st qtr... 136 108 26 77 61 15 2nd qtr... 156 124 30 84 66 17 3rd qtr... 169 134 32 94 71 20 4th qtr... 177 141 32 91 71 17 1997 1st qtr... 143 120 20 74 56 16 2nd qtr... 152 121 28 83 65 16 3rd qtr\r. 163 128 32 84 66 16 AVERAGE RELATIVE STANDARD ERRORS\3 Annual (%) 2 3 3 1 1 2 Quarterly (%) 3 3 10 2 2 5 p Preliminary. r Revised. 1 Metropolitan statistical areas. 2 Includes units completed in structures with two to four units. 3 Average Relative Standard Errors (Avg. RSE): Annual--Avg. RSE for the last 2 years; Quarterly--Avg. RSE for the latest 2-quarter period (quarter 1-quarter 2 or quarter 3-quarter 4). Table 3. New Privately Owned Housing Units Under Construction (Thousands of units. Detail may not add to total because of rounding) In structures with: 3&4 5 units Period Total 1 unit 2 units units or more ANNUAL DATA 1987.............. 987.3 590.6 17.3 22.5 356.9 1988.............. 919.4 569.6 16.1 24.1 309.5 1989.............. 850.3 535.1 11.9 25.1 278.1 1990.............. 711.4 449.1 10.9 15.1 236.3 1991.............. 606.3 433.5 9.1 14.5 149.2 1992.............. 612.4 472.7 5.6 11.3 122.8 1993.............. 680.1 543.0 6.5 12.4 118.2 1994.............. 762.2 557.8 9.1 12.9 182.5 1995.............. 775.9 547.2 8.4 12.7 207.7 1996.............. 792.3 550.0 9.0 19.1 214.3 MONTHLY DATA Not Seasonally Adjusted 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........ 845.1 610.5 10.2 16.4 208.0 July........ 853.3 619.9 9.9 17.8 205.7 August...... 857.0 627.3 9.2 16.1 204.4 September... 858.9 624.5 10.3 15.0 209.1 October..... 855.1 614.0 10.8 16.7 213.6 November.... 843.3 596.7 9.3 19.2 218.2 December.... 792.3 550.0 9.0 19.1 214.3 1997: January..... 777.2 536.2 9.1 19.0 212.8 February.... 763.7 524.1 9.1 17.5 213.1 March....... 772.9 530.7 8.7 17.5 216.0 April....... 799.8 551.2 8.9 16.5 223.2 May......... 820.0 566.6 8.9 16.2 228.3 June........ 845.0 579.7 8.7 17.3 239.3 July........ 864.9 596.9 9.5 16.0 242.6 August\r.... 869.6 601.8 9.4 16.4 242.0 September\r. 878.7 606.5 10.4 15.5 246.4 October\p... 884.2 606.2 10.5 17.2 250.4 AVERAGE RELATIVE STANDARD ERROR/2 End of period (%) 1 2 8 16 3 MONTHLY DATA Seasonally Adjusted Annual Rate 2-4 5 units Period Total 1 unit units or more 1996: January..... 802 568 20 214 February.... 798 566 19 213 March....... 814 580 20 214 April....... 825 590 23 212 May......... 826 590 24 212 June........ 826 594 25 207 July........ 825 593 27 205 August...... 820 593 24 203 September... 825 592 25 208 October..... 825 588 26 211 November.... 828 584 28 216 December.... 815 571 28 216 1997: January..... 818 573 29 216 February.... 821 574 28 219 March....... 814 566 27 221 April....... 812 563 26 223 May......... 815 564 26 225 June........ 830 567 26 237 July........ 837 571 24 242 August\r.... 836 569 25 242 September\r. 843 572 25 246 October\p... 853 578 27 248 AVERAGE RELATIVE STANDARD ERRORS\2 Monthly..(%) 1 2 8 3 See footnotes at end of table. Table 3. New Privately Owned Housing Units Under Construction - Continued (Thousands of units. Detail may not add to total because of rounding) Inside Outside Period Total MSA's\1 MSA's\1 Northeast Midwest South West ANNUAL DATA 1987............. 987.3 820.6 166.7 221.7 158.7 342.5 264.4 1988............. 919.4 757.5 161.9 201.6 148.1 308.2 261.6 1989............. 850.3 686.7 163.6 158.8 145.5 282.1 263.9 1990............. 711.4 553.9 157.5 121.6 133.4 242.3 214.1 1991............. 606.3 458.4 147.9 103.9 122.4 208.5 171.6 1992............. 612.4 453.1 159.4 81.4 137.8 228.4 164.8 1993............. 680.1 521.0 159.1 89.3 154.4 265.4 170.9 1994............. 762.2 597.6 164.5 96.3 173.5 312.1 180.3 1995............. 775.9 620.1 155.8 86.3 172.0 331.4 186.3 1996............. 792.3 629.9 162.4 85.2 178.0 337.6 191.4 MONTHLY DATA Not Seasonally Adjusted 1996: January.... 763.7 613.6 150.1 82.9 165.5 328.9 186.3 February... 765.8 618.0 147.8 79.8 163.4 332.7 189.9 March...... 772.8 620.5 152.3 82.6 164.5 335.7 190.0 April...... 813.5 652.6 160.9 86.5 172.3 352.5 202.2 May........ 835.2 667.1 168.2 88.4 181.0 361.7 204.1 June....... 845.1 672.9 172.2 90.4 183.6 363.2 208.0 July....... 853.3 677.4 175.9 93.9 188.3 364.2 206.9 August..... 857.0 678.6 178.4 94.3 192.7 359.3 210.6 September.. 858.9 680.0 178.9 93.7 193.4 364.4 207.5 October.... 855.1 677.2 177.9 92.4 195.1 357.2 210.3 November... 843.3 671.7 171.7 88.8 191.1 356.5 207.0 December... 792.3 629.9 162.4 85.2 178.0 337.6 191.4 1997: January.... 777.2 621.7 155.5 84.8 167.0 335.8 189.6 February... 763.7 615.2 148.5 80.1 162.3 333.1 188.2 March...... 772.9 625.5 147.4 77.8 164.9 336.6 193.6 April...... 799.8 649.2 150.6 82.1 169.6 348.4 199.7 May........ 820.0 663.7 156.3 81.4 178.0 356.3 204.3 June....... 845.0 680.0 165.0 82.2 185.5 367.1 210.1 July....... 864.9 694.7 170.2 85.3 190.9 375.4 213.3 August\r... 869.1 698.3 171.3 86.5 190.0 379.1 214.1 September\r 878.7 704.1 174.6 86.9 191.7 380.2 220.0 October\p.. 884.2 710.3 173.8 86.9 194.9 381.5 220.9 AVERAGE RELATIVE STANDARD ERROR/2 End of period (%) 1 1 5 3 4 2 2 MONTHLY DATA Seasonally Adjusted Annual Rate Inside Outside Period Total MSA's\1 MSA's\1 Northeast Midwest South West 1996: January.... 802 (NA) (NA) 87 176 345 194 February... 798 (NA) (NA) 83 179 339 197 March...... 814 (NA) (NA) 88 180 347 199 April...... 825 (NA) (NA) 89 180 352 204 May........ 826 (NA) (NA) 90 180 353 203 June....... 826 (NA) (NA) 88 180 354 204 July....... 825 (NA) (NA) 91 180 352 202 August..... 820 (NA) (NA) 90 181 347 202 September.. 825 (NA) (NA) 90 183 354 198 October.... 825 (NA) (NA) 89 183 352 201 November... 828 (NA) (NA) 86 182 355 205 December... 815 (NA) (NA) 86 180 350 199 1997: January.... 818 (NA) (NA) 88 179 352 199 February... 821 (NA) (NA) 86 182 351 202 March...... 814 (NA) (NA) 84 179 349 202 April...... 812 (NA) (NA) 84 178 349 201 May........ 815 (NA) (NA) 83 179 349 204 June....... 830 (NA) (NA) 82 183 359 206 July....... 837 (NA) (NA) 82 183 363 209 August\r... 836 (NA) (NA) 82 180 367 207 September\r 843 (NA) (NA) 83 182 369 209 October\p.. 853 (NA) (NA) 83 183 376 211 AVERAGE RELATIVE STANDARD ERRORS\2 End of period (%) 1 1 5 3 4 2 2 NA Not available. p Preliminary. r Revised. 1 Metropolitan statistical areas. 2 Average Relative Standard Errors: Average for the latest 6-month period (January-June or July-December). Table 4. New Privately Owned Housing Units Under Construction by Location and Type of Structure (Thousands of units. Detail may not add to total because of rounding) Period United States Inside MSA's\1 Outside MSA's\1 In structures In structures In structures with with with 5 units 5 units 5 units Total\2 1 unit or more Total\2 1 unit or more Total\2 1 unit or more QUARTERLY DATA 1988 1st qtr 948.5 577.7 332.3 793.8 449.8 312.3 154.7 127.9 20.0 2nd qtr 1,009.6 635.3 335.2 836.8 490.2 315.0 172.7 145.1 20.2 3rd qtr 994.6 629.7 324.5 818.3 483.1 302.7 176.4 146.5 21.8 4th qtr 919.4 569.6 309.5 757.5 438.2 287.9 161.9 131.4 21.6 1989 1st qtr 894.2 548.1 303.5 739.2 425.0 281.0 155.0 123.1 22.5 2nd qtr 942.9 597.0 303.5 765.8 453.0 280.0 177.0 144.0 23.5 3rd qtr 925.2 593.6 289.6 747.8 449.3 266.2 177.3 144.2 23.4 4th qtr 850.3 535.1 278.1 686.7 405.6 254.2 163.6 129.6 24.0 1990 1st qtr 841.5 528.7 278.6 683.1 402.0 254.8 158.4 126.6 23.8 2nd qtr 873.3 560.8 278.2 698.7 418.6 253.4 174.6 142.2 24.8 3rd qtr 818.8 529.6 258.8 648.0 389.6 234.8 170.7 140.0 24.0 4th qtr 711.4 449.1 236.3 553.9 321.2 212.8 157.5 127.9 23.5 1991 1st qtr 644.8 412.6 207.8 497.4 293.8 185.6 147.5 118.8 22.3 2nd qtr 675.1 465.3 185.0 518.4 336.5 163.9 156.6 128.7 21.1 3rd qtr 657.1 476.7 157.3 502.6 347.7 138.3 154.5 129.0 19.0 4th qtr 606.3 433.5 149.2 458.4 314.3 127.1 147.9 119.2 22.1 1992 1st qtr 622.9 451.8 148.7 471.6 330.2 125.5 151.3 121.6 23.2 2nd qtr 667.6 504.8 140.5 501.9 366.7 119.2 165.7 138.1 21.3 3rd qtr 664.0 511.5 132.2 491.6 364.5 112.3 172.5 147.0 19.9 4th qtr 612.4 472.7 122.8 453.1 336.8 104.2 159.4 135.8 18.7 1993 1st qtr 600.9 471.1 111.7 451.6 344.0 94.7 149.3 127.1 17.0 2nd qtr 675.3 542.5 112.7 513.1 401.8 96.9 162.2 140.7 15.8 3rd qtr 707.6 572.4 114.4 538.5 423.7 100.0 169.1 148.7 14.4 4th qtr 680.1 543.0 118.2 521.0 404.7 102.9 159.1 138.3 15.3 1994 1st qtr 695.6 551.1 126.8 542.5 418.6 111.5 153.0 132.5 15.3 2nd qtr 776.8 608.9 150.5 605.0 459.4 132.8 171.7 149.4 17.7 3rd qtr 806.0 621.2 164.7 625.5 464.3 146.7 180.5 156.8 17.9 4th qtr 762.2 557.8 182.5 597.6 417.9 163.9 164.5 139.9 18.5 1995 1st qtr 732.3 520.5 190.9 584.5 396.7 172.5 147.8 123.7 18.4 2nd qtr 775.7 551.4 202.4 617.6 417.2 184.3 158.0 134.2 18.2 3rd qtr 813.4 584.7 206.8 645.3 441.8 187.3 168.1 143.0 19.5 4th qtr 775.9 547.2 207.7 620.1 417.0 187.4 155.8 130.2 20.3 1996 1st qtr 772.8 544.0 209.9 620.5 417.2 189.2 152.3 126.8 20.7 2nd qtr 845.1 610.5 208.0 672.9 465.2 188.1 172.2 145.3 19.8 3rd qtr 858.9 624.5 209.1 680.0 473.2 188.3 178.9 151.3 20.9 4th qtr 792.3 550.0 214.3 629.9 417.2 191.6 162.4 132.9 22.7 1997 1st qtr 772.9 530.7 216.0 625.5 411.5 194.2 147.4 119.2 21.8 2nd qtr 845.0 579.7 239.3 680.0 446.0 214.6 165.0 133.8 24.7 3rd qtr\r 878.7 606.5 246.4 704.1 462.6 222.2 174.6 143.9 24.2 AVERAGE RELATIVE STANDARD ERRORS\3 End of period(%) 1 1 3 1 1 3 4 5 13 See footnotes at end of table. Table 4. New Privately Owned Housing Units Under Construction by Location and Type of Structure - Continued (Thousands of units. Detail may not add to total because of rounding) Period Northeast Midwest In structures with In structures with Total\2 1 unit 5+ units Total\2 1 unit 5+ units QUARTERLY DATA 1988 1st qtr 221.2 152.2 60.7 140.3 83.1 49.2 2nd qtr 226.6 159.4 58.9 162.5 102.7 51.0 3rd qtr 226.2 158.9 58.4 161.0 103.0 48.7 4th qtr 201.6 140.4 52.8 148.1 90.4 47.7 1989 1st qtr 182.3 123.7 50.0 139.5 80.4 48.8 2nd qtr 180.8 128.5 44.2 157.8 95.7 52.0 3rd qtr 176.2 124.9 43.5 157.9 102.1 45.0 4th qtr 158.8 109.8 42.9 145.5 89.6 46.8 1990 1st qtr 147.9 100.9 41.3 141.9 87.2 45.8 2nd qtr 143.2 98.4 39.0 161.3 103.6 48.8 3rd qtr 137.2 93.8 38.1 155.5 104.2 43.2 4th qtr 121.6 80.1 37.3 133.4 86.8 39.3 1991 1st qtr 105.1 68.1 33.3 119.9 77.6 35.2 2nd qtr 112.2 77.0 31.6 136.1 97.3 31.4 3rd qtr 110.3 78.4 28.9 135.1 102.5 25.2 4th qtr 103.9 72.6 28.4 122.4 90.5 25.1 1992 1st qtr 96.8 66.6 27.2 127.3 95.2 25.6 2nd qtr 95.4 72.0 20.7 150.1 113.5 29.9 3rd qtr 91.7 70.2 19.1 155.5 116.9 32.5 4th qtr 81.4 62.7 16.8 137.8 104.2 28.4 1993 1st qtr 76.9 58.9 16.0 130.4 101.9 22.9 2nd qtr 86.0 68.1 16.0 153.0 120.2 26.4 3rd qtr 94.3 76.1 16.2 161.9 129.6 25.6 4th qtr 89.3 72.5 14.8 154.4 119.0 29.2 1994 1st qtr 84.9 65.9 17.0 148.5 116.1 27.1 2nd qtr 96.8 77.5 17.4 176.3 139.4 31.5 3rd qtr 96.6 77.8 16.7 185.0 144.0 34.5 4th qtr 96.3 77.0 17.2 173.5 128.1 38.2 1995 1st qtr 88.7 69.9 16.7 155.3 111.4 37.6 2nd qtr 94.7 73.2 19.4 162.0 121.4 33.8 3rd qtr 94.4 76.4 16.1 172.8 131.4 34.2 4th qtr 86.3 70.1 14.3 172.0 125.0 40.2 1996 1st qtr 82.6 66.8 13.8 164.5 121.0 37.3 2nd qtr 90.4 74.2 13.5 183.6 141.5 32.9 3rd qtr 93.7 76.7 14.3 193.4 150.3 34.1 4th qtr 85.2 68.1 14.0 178.0 128.7 39.4 1997 1st qtr 77.8 60.2 14.6 164.9 119.5 36.2 2nd qtr 82.2 63.1 16.2 185.5 134.9 41.6 3rd qtr\r 86.9 65.8 18.1 191.7 144.5 38.3 AVERAGE RELATIVE STANDARD ERRORS\2 End of period(%) 4 3 17 4 4 10 See footnotes at end of table. Table 4. New Privately Owned Housing Units Under Construction by Location and Type of Structure - Continued (Thousands of units. Detail may not add to total because of rounding) Period South West In structures with In structures with Total\2 1 unit 5+ units Total\2 1 unit 5+ units QUARTERLY DATA 1988 1st qtr 326.0 217.2 96.6 261.0 125.3 125.7 2nd qtr 346.2 235.1 99.2 274.3 138.2 126.0 3rd qtr 332.3 224.8 95.7 275.2 142.9 121.7 4th qtr 308.2 201.7 94.9 261.6 137.1 114.2 1989 1st qtr 310.9 204.8 93.5 261.5 139.2 111.2 2nd qtr 323.0 215.1 95.2 281.3 157.7 112.1 3rd qtr 309.4 205.5 91.7 281.7 161.0 109.4 4th qtr 282.1 184.6 85.6 263.9 151.1 102.8 1990 1st qtr 285.5 189.0 87.3 266.1 151.5 104.3 2nd qtr 301.3 202.2 90.2 267.5 156.6 100.1 3rd qtr 273.4 185.2 80.5 252.7 146.4 97.0 4th qtr 242.3 160.3 75.4 214.1 121.9 84.4 1991 1st qtr 229.8 153.0 70.5 190.1 114.0 68.9 2nd qtr 231.2 165.8 58.8 195.5 125.2 63.1 3rd qtr 222.5 172.4 44.2 189.3 123.4 59.0 4th qtr 208.5 158.3 42.7 171.6 112.1 53.0 1992 1st qtr 226.0 173.7 45.4 172.8 116.4 50.4 2nd qtr 242.6 193.4 42.4 179.5 125.9 47.4 3rd qtr 239.1 196.0 37.6 177.8 128.5 43.0 4th qtr 228.4 186.1 38.0 164.8 119.7 39.6 1993 1st qtr 234.8 192.6 37.5 158.8 117.7 35.4 2nd qtr 265.7 223.8 36.5 170.6 130.5 33.9 3rd qtr 271.1 228.0 37.1 180.3 138.7 35.5 4th qtr 265.4 219.1 40.9 170.9 132.4 33.3 1994 1st qtr 286.5 231.5 49.4 175.6 137.7 33.3 2nd qtr 316.9 245.9 65.7 186.7 146.0 36.0 3rd qtr 330.3 250.6 74.0 194.1 148.7 39.4 4th qtr 312.1 223.4 82.8 180.3 129.2 44.3 1995 1st qtr 310.6 216.3 87.9 177.7 122.9 48.7 2nd qtr 327.2 226.3 94.3 191.7 130.5 54.9 3rd qtr 343.1 237.9 98.8 203.0 139.0 57.7 4th qtr 331.4 226.7 98.5 186.3 125.3 54.8 1996 1st qtr 335.7 231.4 98.5 190.0 124.8 60.2 2nd qtr 363.2 257.9 97.6 208.0 136.9 64.1 3rd qtr 364.4 259.2 98.2 207.5 138.3 62.5 4th qtr 337.6 230.3 99.5 191.4 122.9 61.3 1997 1st qtr 336.6 223.4 105.9 193.6 127.6 59.3 2nd qtr 367.1 242.4 116.9 210.1 139.3 64.6 3rd qtr\r 380.2 248.5 123.9 220.0 147.8 66.0 AVERAGE RELATIVE STANDARD ERRORS\3 End of period(%) 2 2 5 2 3 1 p Preliminary. r Revised. 1 Metropolitan statistical areas. 2 Includes units under construction in structures with 2 to 4 units. 3 Average Relative Standard Errors: Average for latest 2-quarter period (quarter 1-quarter 2 or quarter 3-quarter 4). Table 5. Seasonal Indexes Used to Adjust Housing Units Completed Period U.S. In structures with All units implicit 1 unit 2 to 4 5 units index\1 Northeast Midwest South West units or more 1997 July.......... 102.6 96.0 99.0 101.8 99.9 108.1 113.2 August\r...... 109.8 103.5 109.7 107.5 106.9 106.8 120.9 September\r... 108.3 112.4 116.5 105.6 107.2 106.9 105.3 October\p..... 113.4 117.5 121.7 111.7 112.8 93.4 111.6 See footnotes at end of table. Table 5. Seasonal Indexes Used to Adjust Housing Units Completed - Continued Period All units Northeast Midwest South West 1997 July.......... 106.8 101.8 102.6 103.9 August\r...... 101.0 114.9 109.6 108.3 September\r... 112.2 114.5 107.0 105.4 October\p..... 117.2 118.4 110.6 110.1 p Preliminary. r Revised. 1 The implicit seasonal index is the ratio of the unadjusted number of housing units completed in the United States to the seasonally adjusted national total of housing units completed. It provides an indication of the overall seasonality for the particular month. Note: These seasonal indexes include trading-day adjustment factors. Table 6. Seasonal Indexes Used to Adjust Housing Units Under Construction Period U.S. In structures with All units implicit 1 unit 2 to 4 5 units index\1 Northeast Midwest South West units or more 1997 July.......... 103.3 105.1 106.3 104.1 104.2 100.5 100.4 August\r...... 104.0 106.5 107.9 104.6 105.8 103.1 100.2 September\r... 104.2 105.4 109.0 104.5 106.0 103.0 100.2 October\p..... 103.7 105.2 109.0 102.8 104.8 103.8 100.9 See footnotes at end of table. Table 6. Seasonal Indexes Used to Adjust Housing Units Under Cosntruction - Continued Period All units Northeast Midwest South West 1997 July.......... 104.0 104.7 103.8 102.8 August\r...... 105.2 106.0 103.4 104.1 September\r... 104.9 105.8 103.3 105.4 October\p..... 104.3 106.8 101.7 105.0 p Preliminary. r Revised. 1 The implicit seasonal index is the ratio of the unadjusted number of housing units under construction in the United States to the seasonally adjusted national total of housing units under construction. It provides an indication of the overall seasonality for the particular month. Note: These seasonal indexes include trading-day adjustment factors. Source: Construction Reports, Series C22, Housing Completions. The C22 report is available from the U.S. Government Printing Office. Annual Subscription: $20.00. Questions regarding these data may be directed to Erica Filipek, Residential Construction Branch, telephone (301) 457-4703.