Housing Starts Rose 9.4% YOY in August

Washington, DC, September 19, 2018-Privately-owned housing starts in August were at a seasonally adjusted annual rate of 1,282,000, according to the U.S. Census Bureau, 9.2% above the revised July estimate of 1,174,000 and 9.4% above the August 2017 rate of 1,172,000. Single-family housing starts in August were at a rate of 876,000; this is 1.9% above the revised July figure of 860,000. The August rate for units in buildings with five units or more was 392,000.

Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,229,000. This is 5.7% below the revised July rate of 1,303,000 and is 5.5% below the August 2017 rate of 1,300,000. Single-family authorizations in August were at a rate of 820,000; this is 6.1% below the revised July figure of 873,000. 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 1,213,000. This is 2.5% above the revised July estimate of 1,183,000 and is 11.2% above the August 2017 rate of 1,091,000. Single-family housing completions in August were at a rate of 923,000; this is 11.6% above the revised July rate of 827,000. The August rate for units in buildings with five units or more was 285,000.