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Single Family Housing Starts Rise 7 Percent in August

Permit activity dips in multifamily and rises in single family.

Summary:

  • Building permits in August 2013 were at a seasonally adjusted annual rate (SAAR) of 918,000, down 3.8 percent from the revised July rate and up 11.0 percent from August 2012.
  • Housing starts in August 2013 were at a SAAR of 891,000, up 0.9 percent from the revised July estimate and up 19.0 percent from August 2012.

The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for August 2013:

BUILDING PERMITS
Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 918,000. This is 3.8 percent (±1.3%) below the revised July rate of 954,000, but is 11.0 percent (±1.8%) above the August 2012 estimate of 827,000.

Single-family authorizations in August were at a rate of 627,000; this is 3.0 percent (±0.9%) above the revised July figure of 609,000. Authorizations of units in buildings with five units or more were at a rate of 268,000 in August.

Construction on new U.S. homes nudged up in August, boosted by starts for single-family homes. Permits, a sign of future demand, also rose for single-family homes. (Chart and caption:Marketwatch.com)

HOUSING STARTS
Privately-owned housing starts in August were at a seasonally adjusted annual rate of 891,000. This is 0.9 percent (±13.0%)* above the revised July estimate of 883,000 and is 19.0 percent (±11.1%) above the August 2012 rate of 749,000.

Single-family housing starts in August were at a rate of 628,000; this is 7.0 percent (±13.9%)* above the revised July figure of 587,000. The August rate for units in buildings with five units or more was 252,000.

HOUSING COMPLETIONS
Privately-owned housing completions in August were at a seasonally adjusted annual rate of 769,000. This is 0.3 percent (±15.6%)* above the revised July estimate of 767,000 and is 12.1 percent (±15.1%)* above the August 2012 rate of 686,000.

Single-family housing completions in August were at a rate of 573,000; this is 0.5 percent (±12.8%)* above the revised July rate of 570,000. The August rate for units in buildings with five units or more was 191,000.

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