Housing starts in August were at a seasonally adjusted annual rate of 1.18 million, a 0.8 percent decrease below July’s rate of 1.19 million but 1.4 percent more than August 2016’s rate of 1.16 million, according to the U.S. Census Bureau.
Single-family housing starts in August were at a seasonally adjusted annual rate of 851,000, 1.6 percent above July’s rate of 838,000 and 17.1 percent above August 2016’s rate of 727,000.
"This month's report shows that single-family starts continue to move forward at a gradual, consistent pace," said NAHB Chief Economist Robert Dietz. "The three-month average for single-family production has reached a post-recession high, but the months ahead may show volatility given that the building markets affected by Hurricanes Harvey and Irma represent about 14 percent of national production."
Combined single- and multifamily starts rose 22 percent in the Midwest and 4 percent in the West. They fell 7.9 percent in the South and 8.7 percent in the Northeast.
