U.S. Commerce Data for July Shows Housing Starts Improve for Fifth Consecutive Month

Production and permitting of new single-family homes continued on an upward trajectory in July, according to the U.S. Commerce Department. Meanwhile, substantial declines on the multi-family side dragged down the overall numbers, with combined single- and multi-family starts down 1 percent to a seasonally adjusted annual rate of 581,000 units and combined single- and multi-family permits down 1.8 percent to a 560,000-unit rate.

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