US residential building permits and housing starts drop in July while completions rise

Tuesday, 16 August 2022 18:35:17 (GMT+3)   |   San Diego
       

The US Census Bureau and the US Department of Housing and Urban Development announced that privately‐owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 1,674,000. This is 1.3 percent below the revised June rate of 1,696,000, but is 1.1 percent above the July 2021 rate of 1,655,000.

Single‐family authorizations in July were at a rate of 928,000; this is 4.3 percent below the revised June figure of 970,000.  Authorizations of units in buildings with five units or more were at a rate of 693,000 in July.

Privately‐owned housing starts in July were at a seasonally adjusted annual rate of 1,446,000.  This is 9.6 percent (±8.6 percent) below the revised June estimate of 1,599,000 and is 8.1 percent (±11.9 percent) below the July 2021 rate of 1,573,000. 

Single‐family housing starts in July were at a rate of 916,000; this is 10.1 percent (±10.8 percent) below the revised June figure of 1,019,000. The July rate for units in buildings with five units or more was 514,000. 

Privately‐owned housing completions in July were at a seasonally adjusted annual rate of 1,424,000.  This is 1.1 percent (±14.8 percent) above the revised June estimate of 1,409,000 and is 3.5 percent (±15.5 percent) above the July 2021 rate of 1,376,000. 

Single‐family housing completions in July were at a rate of 1,009,000; this is 0.8 percent (±12.2 percent) below the revised June rate of 1,017,000. The July rate for units in buildings with five units or more was 412,000.


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