Housing starts decrease in July

Housing starts were at a seasonally adjusted annual rate of 1.446 million in July, according to the U.S. Census Bureau. This is 9.6% below the revised June estimate of 1.599 million and is 8.1% below the July 2021 rate of 1.573 million.

Housing starts were mixed across the country, increasing in the Northeast (9.3%) and the Midwest (8.1%) but decreasing in the South (0.1%) and in the West (12.0%).

New building permits were 1.674 million in July, 1.3% below the previous month’s revised rate of 1.696 million but 1.1% above the July 2021 rate of 1.665 million. Single-family building permits decreased 4.3% from the revised June figure.

Housing completions were at a seasonally adjusted annual rate of 1.424 million in July. This is 1.1% above the revised June estimate of 1.409 million and is 3.5% above the July 2021 rate of 1.376 million.

Read the Census release.

Share.