August housing starts dip, single-family up 1.8%

Permits jump 5.7%, driven mostly by multifamily rebound.

Builder

Housing starts in August were at a seasonally adjusted annual rate of 1,180,000, an 0.8% decline from the revised July estimate of 1,190,000 but 1.4% above the August 2016 rate of 1,164,000, the Commerce Department reported Tuesday morning. Single-family housing starts in August were at a rate of 851,000, up 1.6% above the revised July figure of 838,000 and up 17.1% from August 2016.

Regionally, starts in the Northeast were down 8.7% and 21.1% from July and August, 2016, respectively, with single-family down 1.5% and up 26.9%, also from July and August a year earlier. The Northeast is a particularly fickle region due to the relatively lackluster pace of new-home building. The Midwest posted sequential and year-over-year gains of 22% and 17.6%, respectively, but saw single-family slip by rates of 4.3% and 2.7%, respectively. In the South, starts were down 7.9% from July but up 0.2% from a year earlier, with single-family up 1.3% and 22.8% respectively. The West saw starts rise 4% sequentially and 4.3% year-over-year, with single-family rising 6.5% and 14.6%, respectively.

READ ON:

Share this!

Additional Articles

News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

September 2017
M T W T F S S
 123
45678910
11121314151617
18192021222324
252627282930