Housing Starts, Permits, Decline in August
Washington, DC, Sept. 18, 2014 -- U.S. housing starts and permits both declined in August, according to the Commerce Department.
However, July's starts were revised higher.
Construction starts decreased 14.4% to a seasonally adjusted annual 956,000-unit pace, mostly due to a 31.7 decline in multi-family housing.
July's starts were revised to show a 1.12-million unit rate instead of the previously reported 1.09-million unit rate.
Groundbreaking for single-family homes fell 2.4% in August to a 643,000-unit rate.
Permits in August fell 5.6% to a 998,000-unit pace.
Permits for single-family homes fell 0.8% to a 626,000-unit pace.