The Commerce Department released its new residential construction report for July 2017.
Housing Starts - down 5.6 percent Y2Y
Privately owned housing starts in July were at a seasonally adjusted annual rate of 1,155,000. This is 4.8 percent below the revised June estimate of 1,213,000 and is 5.6 percent below the July 2016 rate of 1,223,000.
Single-family housing starts in July were at a rate of 856,000; just 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.
Building Permits - up 4.1 percent Y2Y.
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 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.