Housing Starts Fell 5.8% in August, But Up 0.9% YOY

Washington, DC, September 20, 2016— Privately-owned housing starts in August were at a seasonally adjusted annual rate of 1,142,000, 5.8% below the revised July estimate of 1,212,000 but 0.9% above the August 2015 rate of 1,132,000, the U.S. Census Bureau and the Department of Housing and Urban Development jointly announced.

Single-family housing starts in August were at a rate of 722,000; this is 6.0% below the revised July figure of 768,000. The August rate for units in buildings with five units or more was 403,000.

Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,139,000. This is 0.4% below the revised July rate of 1,144,000 and is 2.3% below the August 2015 estimate of 1,166,000.

Single-family authorizations in August were at a rate of 737,000; this is 3.7% above the revised July figure of 711,000. Authorizations of units in buildings with five units or more were at a rate of 370,000 in August.

Privately-owned housing completions in August were at a seasonally adjusted annual rate of 1,043,000. This is 3.4% below the revised July estimate of 1,080,000, but is 8.3% above the August 2015 rate of 963,000.