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Housing Starts Increase 10.5% in August




August 2010 housing starts increased 10.5% above July, according to the U.S. Census Bureau and the Department of Housing and Urban Development. Building permits also increased month over month, with growth of 1.8%. Housing completions in August were 5.6% above July.

Housing Starts

Privately-owned housing starts in August were 10.5% above the revised July estimate of 541,000 and were 2.2% above the August 2009 rate of 585,000, making August’s seasonally adjusted annual rate 598,000.

Single-family housing starts in August were at a rate of 438,000. The rate is 4.3% above the revised July figure of 420,000. The August rate for units in buildings with five units or more was 147,000.

Building Permits

Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 569,000. This is 1.8% above the revised July rate of 559,000, but is 6.7% below the August 2009 estimate of 610,000.

Single-family authorizations in August were at a rate of 401,000. This rate is 1.2% below the revised July figure of 406,000. Authorizations of units in buildings with five units or more were at a rate of 150,000 in August.

Housing Completions

Privately-owned housing completions in August were at a seasonally adjusted annual rate of 603,000. This is 5.6% above the revised July estimate of 571,000, but is 23.7% below the August 2009 rate of 790,000.

Single-family housing completions in August were 1.3% above the revised July rate of 476,000. The August rate for units in buildings with five units or more was 115,000.

About

The U.S. Census Bureau and the Department of Housing and Urban Development jointly announce new residential construction statistics every month. These statistics include information on building permits, housing starts and housing completions. Are you interested in the construction market and construction data? For more information, visit the U.S. Census Bureau website on the New Residential Construction Index.

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