Housing Starts Up 6.8 Percent in July; Starts Down 1.1 Percent

August 20th, 2012 by DWM Magazine

Privately owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 812,000, reported the U.S. Census Bureau and the Department of Housing and Urban Development in their new residential construction statistics for July 2012. This is 6.8 percent (±1.5 percent) above the revised June rate of 760,000 and is 29.5 percent (±1.6 percent) above the July 2011 estimate of 627,000, according to the announcement.

Single-family authorizations in July were reported at a rate of 513,000; this is 4.5 percent (±0.8 percent) above the revised June figure of 491,000. Authorizations of units in buildings with five units or more were at a rate of 274,000 in July.

Privately-owned housing starts in July were at a seasonally adjusted annual rate of 746,000. This is 1.1 percent (±9.6 percent) below the revised June estimate of 754,000, but is 21.5 percent (±14.2 percent) above the July 2011 rate of 614,000. Single-family housing starts in July were at a rate of 502,000, 6.5 percent (±8.7 percent) below the revised June figure of 537,000. The July rate for units in buildings with five units or more was 229,000.

Privately owned housing completions in July were at a seasonally adjusted annual rate of 668,000. This is 7.1 percent (±15.9 percent above the revised June estimate of 624,000 and 5.4 percent (±15.8 percent) above the July 2011 rate of 634,000. Single-family housing completions in July were at a rate of 448,000, 5.9 percent (±9.2 percent) below the revised June rate of 476,000. The July rate for units in buildings with five units or more was 209,000.

 

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