Housing Starts Fell 5.8% In August

Posted by Patrick Barnard on September 20, 2016 No Comments
Categories : Residential Mortgage

Housing starts in August were at a seasonally adjusted annual rate of 1.142 million, a decrease of 5.8% compared with a revised estimate of 1.212 million in July but an increase of 0.9% compared with 1.132 million in August 2015, according to figures released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.

Starts of single-family homes were at a rate of about 722,000, a decrease of 6.0% compared with a revised estimate of 768,000 in July. Starts of multifamily units (five or more units per building) were at a rate of about 403,000, a decrease of 6.9% compared with about 433,000 in July.

Building permits were at a rate of about 1.139 million, a decrease of 0.4% compared with 1.144 million in July and a decrease of 2.3% compared with 1.166 million in August 2015.

Permits for single-family homes were at a rate of 737,000, an increase of 3.7% compared with a revised 711,000 in July. Permits for multifamily units were at a rate of 370,000, a decrease of 8.4% compared with 404,000 in July.

Housing completions in August were at a seasonally adjusted annual rate of 1.043 million, a decrease of 3.4% from 1.080 million in July but an increase of 8.3% compared with about 963,000 in August 2015.

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