The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for May 2022:Building Permits – Privately‐owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,695,000.  This is 7.0 percent below the revised April rate of 1,823,000, but is 0.2 percent above the May 2021 rate of 1,691,000. Single‐family – authorizations in May were at a rate of 1,048,000; this is 5.5 percent below the revised April figure of 1,109,000.  Authorizations of units in buildings with five units or more were at a rate of 592,000 in May. Housing Starts – Privately‐owned housing starts in May were at a seasonally adjusted annual rate of 1,549,000.  This is 14.4 percent (±8.9 percent) below the revised April estimate of 1,810,000 and is 3.5 percent (±10.7 percent)* below the May 2021 rate of 1,605,000.  Single‐family housing starts in May were at a rate of 1,051,000; this is 9.2 percent (±11.0 percent)* below the revised April figure of 1,157,000. The May rate for units in buildings with five units or more was 469,000. Housing Completions – Privately‐owned housing completions in May were at a seasonally adjusted annual rate of 1,465,000.  This is 9.1 percent (±22.6 percent)* above the revised April estimate of 1,343,000 and is 9.3 percent (±19.0 percent)* above the May 2021 rate of 1,340,000.  Single‐family housing completions in May were at a rate of 1,043,000; this is 2.8 percent (±13.6 percent)* above the revised April rate of 1,015,000. The May rate for units in buildings with five units or more was 417,000.