U.S. residential building dips in July
Permits, starts and completions all fall month over month.
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for July 2017:
Building Permits
Privately-owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 1,223,000. This is 4.1 percent (±0.9 percent) below the revised June rate of 1,275,000, but is 4.1 percent (±1.8 percent) above the July 2016 rate of 1,175,000.
Single-family authorizations in July were at a rate of 811,000; this is 0.0 percent (±1.1 percent)* below 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.
Housing Starts
Privately-owned housing starts in July were at a seasonally adjusted annual rate of 1,155,000. This is 4.8 percent (±10.2 percent)* below the revised June estimate of 1,213,000 and is 5.6 percent (±8.5 percent)* below the July 2016 rate of 1,223,000.
Single-family housing starts in July were at a rate of 856,000; this is 0.5 percent (±8.5 percent)* below the revised June figure of 860,000. The July rate for units in buildings with five units or more was 287,000.
Housing Completions
Privately-owned housing completions in July were at a seasonally adjusted annual rate of 1,175,000. This is 6.2 percent (±14.3 percent)* below the revised June estimate of 1,252,000, but is 8.2 percent (±12.6 percent)* above the July 2016 rate of 1,086,000.
Single-family housing completions in July were at a rate of 814,000; this is 1.6 percent (±11.9 percent)* below the revised June rate of 827,000. The July rate for units in buildings with five units or more was 354,000.
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