Single-family housing starts in August were at a rate of 890,000, according to data from the US Census Bureau and the Department of Housing and Urban Development. This marked a 7% drop from the revised July figure of 957,000.
Privately-owned housing starts in August were at a seasonally adjusted annual rate of 1.30 million, an 8.5% decline from the revised July estimate of 1.42 million and down 6% from the August 2024 rate of 1.39 million.
Single-family authorizations in August were at a rate of 856,000, a 2.2% drop from the revised July figure of 875,000. Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1.31 million, a 3.7% drop from the revised July rate of 1.36 million and an 11.1% plummet from the August 2024 rate of 1.47 million.
However, there was upward movement with housing completions. Single-family housing completions in August were at a rate of 1.09 million, which is 6.7% above the revised July rate of 1.02 million. Privately-owned housing completions in August were at a seasonally adjusted annual rate of 1.60 million, up 8.4% above the revised July estimate of 1.48 million but also 8.4% below the August 2024 rate of 1.75 million.
