Housing Shows Solid Gains in July with 5.9% Gain MTM and 20.9% Pop YTY

Privately-owned housing starts in July were at a seasonally adjusted annual rate of 896,000, 5.9% above the revised June estimate of 846,000 and 20.9% above the July 2012 rate of 741,000.
Aug. 23, 2013
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The U.S. Census Bureau said privately-owned housing starts in July were at a seasonally adjusted annual rate of 896,000, 5.9% above the revised June estimate of 846,000 and 20.9% above the July 2012 rate of 741,000. Single-family housing starts in July were at a rate of 591,000, 2.2% below the revised June figure of 604,000.
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“This report is in line with our forecast for continued, gradual strengthening of housing starts and permit activity through the rest of the year,” said NAHB Chief Economist David Crowe. “The double-digit bounce-back on the multi-family side was in keeping with typical month-to-month volatility in that sector, while the sideways movement in single-family was a result of unusually wet weather in the South and West.”
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