Housing starts increased to a seasonally adjusted annual rate of 1.496 million in July, according to the U.S. Census Bureau. The increase was 22.6% above the revised June estimate of 1.258 million and is 23.4% higher than the July 2019 rate of 1.212 million. Single-family home starts increased 8.2% from last month.
Housing starts climbed across the country in the Northeast (35.3%), West (5.8%), Midwest (5.8%) and South (33.2%).
New building permits rose to 1.495 million in July, increasing 18.8% over the month and 9.4% year-over-year. Single-family building permits increased 17.0% from the revised June figure.
Housing completions were at a seasonally adjusted annual rate of 1.280 million, up 3.6% from the revised June estimate and 1.7% above the July 2019 rate.
Read the Census release.
