Housing Starts Increase 1.7 Percent in July

Privately-owned housing starts in July were at a seasonally adjusted annual rate of 546,000. This is 1.7 percent above the revised June estimate of 537,000, but is seven percent below the July 2009 rate of 587,000. Single-family housing starts in July were at a rate of 432,000, 4.2 percent below the revised June figure of 451,000. The July rate for units in buildings with five units or more was 95,000. Privately-owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 565,000. This is 3.1 percent below the revised June rate of 583,000 and is 3.7 percent below the July 2009 estimate of 587,000. Single-family authorizations in July were at a rate of 416,000, 1.2 percent below the revised June figure of 421,000.