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.

Building permits. Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 803,000, 1% below the revised July rate of 811,000, but 24.5% above the August 2011 estimate of 645,000. Single-family authorizations in August were at a rate of 512,000, 0.2% above the revised July figure of 511,000. Authorizations of units in buildings with five units or more were at a rate of 263,000 in August.

Privately owned housing completions in August were at a seasonally adjusted annual rate of 689,000, 0.7% above the revised July estimate of 684,000 and 11.7% above the August 2011 rate of 617,000.