Nationwide housing starts in July increased 0.2 percent to a seasonally adjusted annual rate of 1.206 million units in July, the highest level since October 2007, according to the National Association of Home Builders.
Nationwide housing starts in July increased 0.2 percent to a seasonally adjusted annual rate of 1.206 million units in July, the highest level since October 2007, according to the National Association of Home Builders.
The July housing starts were 10.1 percent higher than the July 2014 rate of 1.095 million.
Single-family housing starts rose 12.8 percent to a seasonally adjusted annual rate of 782,000 compared with June’s rate of 693,000.
"Our builders are reporting more confidence in the market, and are stepping up production of single-family homes as a result," said NAHB Chairman Tom Woods in a statement. "However, builders are still reporting problems accessing land and labor."
Regionally in July, Midwest combined single- and multifamily starts increased 20.1 percent. In the South, combined starts rose 7.7 percent. The Northeast and West recorded losses of 27.5 percent and 3.1 percent, respectively.
