Housing Starts Fall July

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for July 2017.

Building Permits

Privately-owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 1,223,000. This is 4.1 percent below the revised June rate of 1,275,000, but is 4.1 percent above the July 2016 rate of 1,175,000. Single-family authorizations in July were at a rate of 811,000; this is unchanged from the revised June figure of 811,000. Authorizations of units in buildings with five units or more were at a rate of 377,000 in July.

Housing Starts

Single-family housing starts in July were at a rate of 856,000; this is 0.5 percent below the revised June figure of 860,000. The July rate for units in buildings with five units or more was 287,000.

Housing Completions

Privately-owned housing completions in July were at a seasonally adjusted annual rate of 1,175,000. This is 6.2 percent below the revised June estimate of 1,252,000, but is 8.2 percent above the July 2016 rate of 1,086,000. Single-family housing completions in July were at a rate of 814,000; this is 1.6 percent below the revised June rate of 827,000. The July rate for units in buildings with five units or more was 354,000.