Single-Family Housing Starts Increase 4.3% in August Over July but are Down -9.1% YTY

The U.S. Census Bureau said single-family housing starts in August were at a rate of 438,000 — 4.3 percent above the revised July figure of 420,000. Total housing starts rose 10.5 percent to a seasonally adjusted annual rate of 598,000 units in August.

“Construction activity returned to pre-home buyers tax credit levels in August as builders replaced sold single-family homes and begin replenishing apartment building supply after a three-year steady decline in multi-family construction,” said David Crowe, chief economist, National Association of Home Builders (NAHB), Washington, D.C.

New Privately Owned Housing Units Started

(Thousands of units, seasonally adjusted annual rate)

Period Total 1 Unit 5 Units or more Northeast Midwest South West August 2010¹ 598 438 147 56 112 289 141 July 2010² 541 420 103 74 92 270 105 June 2010² 539 450 84 60 83 287 109 May 2010 588 459 117 72 109 291 116 April 2010 679 563 104 84 118 367 110 March 2010 634 535 91 66 93 339 136 August 2009 585 482 96 71 106 281 127

1-Preliminary; 2-Revised; Note: Detail may not add to total because of rounding.

Source: U.S. Bureau of the Census