Home Builders Post Big Increases for July with Single-Family Starts Up +8.2%

Privately-owned housing starts in July were at a seasonally adjusted annual rate of 1,496,000, +22.6% above the revised June estimate of 1,220,000 and +23.4% above the July 2019 rate of 1,212,000. The latest housing data from the U.S. Census Bureau showed that single-family housing starts in July were at a rate of 940,000, + 8.2% above the revised June figure of 869,000.

“The market is being buoyed by historically low interest rates, a focus on the importance of housing and a shift to the suburbs as more buyers are seeking homes in suburban communities, exurbs and more affordable low-density markets,” said Robert Dietz, chief economist for the National Association of Home Builders (NAHB), in a press release.