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.
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.