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July Housing Starts Down 4.8 Percent from June

Starts down 5.6 percent year over year

August 16, 2017
Housing starts are down 5.6 percent year over year

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.

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