Housing Starts Rose 3.9% in July

Washington, DC, August 16, 2023-Privately‐owned housing starts in July were at a seasonally adjusted annual rate of 1,452,000, 3.9% above the revised June estimate of 1,398,000 and is 5.9% above the July 2022 rate of 1,371,000, according to the U.S. Census Bureau. Single‐family housing starts in July were at a rate of 983,000; this is 6.7% above the revised June figure of 921,000. The July rate for units in buildings with five units or more was 460,000.

Privately‐owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 1,442,000. This is 0.1% above the revised June rate of 1,441,000, but is 13.0% below the July 2022 rate of 1,658,000. Single‐family authorizations in July were at a rate of 930,000; this is 0.6 percent above the revised June figure of 924,000. Authorizations of units in buildings with five units or more were at a rate of 464,000 in July.

Privately‐owned housing completions in July were at a seasonally adjusted annual rate of 1,321,000. This is 11.8% below the revised June estimate of 1,498,000 and is 5.4% below the July 2022 rate of 1,396,000. Single‐family housing completions in July were at a rate of 1,018,000; this is 1.3% above the revised June rate of 1,005,000. The July rate for units in buildings with five units or more was 297,000.