August Housing Starts Surge 29.1% YTY

August Housing Starts Surge 29.1% YTY

The latest data on residential construction from the U.S. Census Dept. shows that privately-owned housing starts in August were at a seasonally adjusted annual rate of 750,000, 2.3% above the revised July estimate of 733,000 and 29.1% above the August 2011 rate of 581,000. Single-family housing starts in August were at a rate of 535,000, 5.5% above the revised July figure of 507,000. The August rate for buildings with five units or more was 208,000.

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