Housing Starts Show Some Life in July

Housing starts slowed in July after a 14.6 percent surge in June, according to the U.S Census Bureau. Privately-owned housing starts in July were at a seasonally adjusted annual rate of 604,000, 1.5 percent below the June estimate of 613,000, but 9.8 percent above the July 2010 rate of 550,000. Single-family housing starts in July were at a rate of 425,000, 4.9 percent below the revised June figure of 447,000. The July rate for units in buildings with five units or more was 170,000.

Privately-owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 597,000, 3.2 percent below the revised June rate of 617,000, but 3.8 percent above the July 2010 estimate of 575,000. Single-family authorizations in July were at a rate of 404,000, 0.5 percent above the revised June figure of 402,000. Building permits for structures with five units or more were at a rate of 171,000 in July.