The US Census Bureau and the Department of Housing and Urban Development jointly announced mixed results in US construction activity in August on Tuesday.
Privately-owned building permits in August were at a seasonally adjusted rate of 620,000--3.2 percent above the July rate of 601,000 and is 7.8 percent above the August 2010 estimate of 575,000. Single-family authorizations were up 2.5 percent from July in August to 413,000.
Housing starts, on the other hand, fell in August to a seasonally adjusted annual rate of 571,000, 5 percent below the July estimate of 601,000 and 5.8 percent below the August 2010 rate of 606,000 units. Single-family starts in August were at a rate of 417,000, 1.4 percent below the July rate of 423,000.
Housing completions fell in August to 623,000 units--2.7 percent below July completions of 640,000, but still up 2.6 percent from August 2010.