The U.S. Census Bureau and the Department of Housing and Urban Development have recently announced new residential construction statistics for August 2014. According to the data, building permits for privately-owned housing units in August were at a seasonally adjusted annual rate of 998,000, down 5.6 percent from the revised July rate of 1,057,000. However, the rate was up 5.3 percent from the August 2013 rate of 948,000. Building permits for single-family housing in August were estimated at 626,000, down 0.8 percent from the revised July rate of 631,000. Building permits for units in buildings with five units or more in August were at a rate of 343,000.
Privately-owned housing starts were at an adjusted rate of 956,000 in August, down 14.4 percent from July’s revised estimate of 1,117,000, but up 8.0 percent from the August 2013 rate of 885,000. Single-family housing starts were at a rate of 643,000 in August, down 2.4 percent from the revised July rate of 659,000. Starts for units in buildings with five units or more had an August rate of 304,000.
As for housing completions, the August rate for privately-owned housing was at a seasonally adjusted annual estimate of 892,000, an increase of 3.2 percent from July’s revised rate of 864,000 and up 16.9 percent from the August 2013 estimate of 763,000. Single-family housing completions were at a rate of 591,000 for August, putting it 8.2 percent below July’s revised rate of 644,000. The housing completion rate for units in buildings with five units or more was at 292,000 in August.
For more information, click here to read the full U.S. Census Bureau/U.S. Department of Housing & Urban Development Press Release for August 2014.