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Housing Starts Fall in August




The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for August 2017.

Building Permits

Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,300,000. This is 5.7 percent above the revised July rate of 1,230,000 and is 8.3 percent above the August 2016 rate of 1,200,000. Single-family authorizations in August were at a rate of 800,000; this is 1.5 percent below the revised July figure of 812,000. Authorizations of units in buildings with five units or more were at a rate of 464,000 in August.

Housing Starts

Privately-owned housing starts in August were at a seasonally adjusted annual rate of 1,180,000. This is 0.8 percent below the revised July estimate of 1,190,000, but is 1.4 percent above the August 2016 rate of 1,164,000. Single-family housing starts in August were at a rate of 851,000; this is 1.6 percent above the revised July figure of 838,000. The August rate for units in buildings with five units or more was 323,000.

Housing Completions

Privately-owned housing completions in August were at a seasonally adjusted annual rate of 1,075,000. This is 10.2 percent below the revised July estimate of 1,197,000, but is 3.4 percent above the August 2016 rate of 1,040,000. Single-family housing completions in August were at a rate of 724,000; this is 13.3 percent below the revised July rate of 835,000. The August rate for units in buildings with five units or more was 348,000.

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