Housing Starts Tumble in July, Down 4.8%

Washington, DC, August 16, 2017- Privately-owned housing starts in July were at a seasonally adjusted annual rate of 1,155,000, according to the U.S. Census Bureau. This is 4.8% below the revised June estimate of 1,213,000 and is 5.6% below the July 2016 rate of 1,223,000. Single-family housing starts in July were at a rate of 856,000; this is 0.5% below the revised June figure of 860,000. The July rate for units in buildings with five units or more was 287,000.

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% below the revised June rate of 1,275,000, but is 4.1% 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.

Privately-owned housing completions in July were at a seasonally adjusted annual rate of 1,175,000. This is 6.2% below the revised June estimate of 1,252,000, but is 8.2% 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% below the revised June rate of 827,000. The July rate for units in buildings with five units or more was 354,000.