Single-family housing starts increased 15.8% from July to August to a seasonally adjusted annual rate of 992,000 units, according to the U.S. Census Bureau. Single-family starts increased 10.4% compared with August 2023.
Single-family housing permits increased 2.8% from July to August to a 967,000 unit rate.
“Single-family starts were up in August as demand remains strong despite several supply-side challenges,” National Association of Home Builders Chairman Carl Harris said in a statement. “The rise in single-family construction mirrors an uptick in NAHB’s latest builder survey. However, builders continue to face a challenging environment due to rising construction costs.”
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