Housing Starts Rose 9.6% in August

Washington, DC, September 18, 2024-Privately-owned housing starts in August were at a seasonally adjusted annual rate of 1,356,000, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced, 9.6% above the revised July estimate of 1,237,000 and 3.9% above the August 2023 rate of 1,305,000. Single-family housing starts in August were at a rate of 992,000; this is 15.8% above the revised July figure of 857,000. The August rate for units in buildings with five units or more was 333,000.

Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,475,000. This is 4.9% above the revised July rate of 1,406,000, but is 6.5% below the August 2023 rate of 1,578,000. Single-family authorizations in August were at a rate of 967,000; this is 2.8% above the revised July figure of 941,000. Authorizations of units in buildings with five units or more were at a rate of 451,000 in August.

Privately-owned housing completions in August were at a seasonally adjusted annual rate of 1,788,000. This is 9.2% above the revised July estimate of 1,637,000 and is 30.2% above the August 2023 rate of 1,373,000. Single-family housing completions in August were at a rate of 1,029,000; this is 5.6% below the revised July rate of 1,090,000. The August rate for units in buildings with five units or more was 740,000.