Housing starts in July decreased to a seasonally adjusted annual rate of 1.238 million, according to the U.S. Department of Commerce. This is 6.8% below the revised June estimate of 1.314 million and is 16.0% below the July 2023 rate of 1.473 million. Single-family housing starts fell to a rate of 0.851 million, 14.1% below the revised June figure of 0.991 million.
New building permits decreased to a seasonally adjusted annual rate of 1.396 million, 4.0% below the revised June rate of 1.454 million and 7.0% below the July 2023 rate of 1.501 million. Single-family authorizations edged down 0.1% to a rate of 0.938 million from the revised June figure of 0.939 million.
Housing completions were at a seasonally adjusted annual rate of 1.529 million, 9.8% below the revised June estimate of 1.696 million but is 13.8% above the July 2023 rate of 1.343 million.
Read the Census release