Housing Starts Rose 12.2% in August

Washington, DC, September 20, 2022-Privately‐owned housing starts in August were at a seasonally adjusted annual rate of 1,575,000, 12.2% above the revised July estimate of 1,404,000 but 0.1% below the August 2021 rate of 1,576,000, according to the U.S. Census Bureau. Single‐family housing starts in August were at a rate of 935,000; this is 3.4% above the revised July figure of 904,000. The August rate for units in buildings with five units or more was 621,000.

Privately‐owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,517,000. This is 10.0% below the revised July rate of 1,685,000 and is 14.4% below the August 2021 rate of 1,772,000. Single‐family authorizations in August were at a rate of 899,000; this is 3.5% below the revised July figure of 932,000. Authorizations of units in buildings with five units or more were at a rate of 571,000 in August.

Privately‐owned housing completions in August were at a seasonally adjusted annual rate of 1,342,000. This is 5.4% below the revised July estimate of 1,419,000, but is 3.1% above the August 2021 rate of 1,302,000. Single‐family housing completions in August were at a rate of 1,017,000; this is 0.4% above the revised July rate of 1,013,000. The August rate for units in buildings with five units or more was 318,000.