By Suzann Silverman | Multi-Housing News
Housing starts of buildings with five or more units rose by 8.3 percent over the month of July 2016 to a seasonally adjusted annual rate of 433,000. This is the highest level of five or more unit housing starts since September 2015. The month-over-month increase in July is the fourth consecutive month of recorded gains. Over this four-month period, from April to July, starts of buildings with five or more units rose by 22.7 percent. Measured at a seasonally adjusted annual rate, the average number of housing starts of buildings with five or more units, measured at a seasonally adjusted annual rate, registered over the first seven months of 2016, 377,000, is similar to the average number of starts over the first seven months of 2015, 382,000.
