Single‐family housing starts in August were at a rate of 941,000, according to new data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. Last month’s rate was 4.3% below the revised July figure of 983,000.
Privately‐owned housing starts in August were at a seasonally adjusted annual rate of 1.28 million, which is 11.3% below the revised July estimate of 1.44 million and 14.8% below the August 2022 rate of 1.5 million.
Single‐family housing completions in August were at a rate of 961,000, a 6.6% decline from the July rate of 1.02 million. Privately‐owned housing completions in August were at a seasonally adjusted annual rate of 1.4 million, which is 5.3% above the revised July estimate of 1.33 million and 3.8% above the August 2022 rate of 1.35 million.
Single‐family authorizations in August were at a rate of 949,000, a 2% uptick from the revised July figure of 930,000. Privately‐owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1.53 million, up 6.9% from the revised July rate of 1.44 million but 2.7% below the August 2022 rate of 1.58 million.
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