July U.S. Housing Starts Slide 9.6 Percent
However, completions rise 1.1 percent for 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 2022:
Building Permits
Privately‐owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 1,674,000. This is 1.3 percent below the revised June rate of 1,696,000, but is 1.1 percent above the July 2021 rate of 1,655,000.
Single‐family authorizations in July were at a rate of 928,000; this is 4.3 percent below the revised June figure of 970,000. Authorizations of units in buildings with five units or more were at a rate of 693,000 in July.
Housing Starts
Privately‐owned housing starts in July were at a seasonally adjusted annual rate of 1,446,000. This is 9.6 percent (±8.6 percent) below the revised June estimate of 1,599,000 and is 8.1 percent (±11.9 percent)* below the July 2021 rate of 1,573,000.
Single‐family housing starts in July were at a rate of 916,000; this is 10.1 percent (±10.8 percent)* below the revised June figure of 1,019,000. The July rate for units in buildings with five units or more was 514,000.
Housing Completions
Privately‐owned housing completions in July were at a seasonally adjusted annual rate of 1,424,000. This is 1.1 percent (±14.8 percent)* above the revised June estimate of 1,409,000 and is 3.5 percent (±15.5 percent)* above the July 2021 rate of 1,376,000.
Single‐family housing completions in July were at a rate of 1,009,000; this is 0.8 percent (±12.2 percent)* below the revised June rate of 1,017,000. The July rate for units in buildings with five units or more was 412,000.
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