Housing Starts Rose 2.1% in July

Washington, DC, August 16, 2016—Privately-owned housing starts in July were at a seasonally adjusted annual rate of 1,211,000, 2.1% above the revised June estimate of 1,186,000 and 5.6% above the July 2015 rate of 1,147,000, reports the Commerce Department.

Privately-owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 1,152,000, 0.1% below the revised June rate of 1,153,000 but 0.9% above the July 2015 estimate of 1,142,000.

Single-family authorizations in July were at a rate of 711,000; this is 3.7% below the revised June figure of 738,000. Authorizations of units in buildings with five units or more were at a rate of 411,000 in July.

Single-family housing starts in July were at a rate of 770,000; this is 0.5% above the revised June figure of 766,000. The July rate for units in buildings with five units or more was 433,000.

Privately-owned housing completions in July were at a seasonally adjusted annual rate of 1,026,000. This is 8.3% below the revised June estimate of 1,119,000, but is 3.2% above the July 2015 rate of 994,000.

Single-family housing completions in July were at a rate of 743,000; this is 0.4% below the revised June rate of 746,000. The July rate for units in buildings with five units or more was 275,000.