The Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for July 2017.
According to the report, privately owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 1,223,000.
This was 4.1 percent below the revised June rate of 1,275,000 and was 4.1 percent above the July 2016 rate of 1,175,000. Single-family authorizations in July were at a rate of 811,000; this was unchanged from the revised June figure of 811,000. Authorizations of units in buildings with five units or more were at a rate of 377,000 in July.
Privately owned housing starts in July were at a seasonally adjusted annual rate of 1,155,000.
This was 4.8 percent below the revised June estimate of 1,213,000 and was 5.6 percent below the July 2016 rate of 1,223,000.
Single-family housing starts in July were at a rate of 856,000; this was 0.5 percent below the revised June figure of 860,000. The July rate for units in buildings with five units or more was 287,000.
Privately owned housing completions in July were at a seasonally adjusted annual rate of 1,175,000.
This was 6.2 percent below the revised June estimate of 1,252,000 and was 8.2 percent above the July 2016 rate of 1,086,000.
Single-family housing completions in July were at a rate of 814,000; this was 1.6 percent below the revised June rate of 827,000. The July rate for units in buildings with five units or more was 354,000.
The August report is scheduled for release Sept. 19, 2017.