New Residential Construction Rates Down in July

Washington, DC, August 18, 2015—Privately-owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 1,119,000, the U.S. Census Bureau and the Department of Housing and Urban Development have jointly announced, 16.3% below the revised June rate of 1,337,000 but 7.5% above the July 2014 estimate of 1,041,000.

Single-family authorizations in July were at a rate of 679,000; this is 1.9% below the revised June figure of 692,000.

Authorizations of units in buildings with five units or more were at a rate of 412,000 in July.

Privately-owned housing starts in July were at a seasonally adjusted annual rate of 1,206,000, 0.2% above the revised June estimate of 1,204,000 and 10.1% above the July 2014 rate of 1,095,000.

Single-family housing starts in July were at a rate of 782,000; this is 12.8% above the revised June figure of 693,000.

The July rate for units in buildings with five units or more was 413,000.