The U.S. Census Bureau and the Department of Housing and Urban Development have recently announced new residential construction statistics for August 2016. According to the data, building permits for privately-owned housing units in August were at a seasonally adjusted annual rate of 1,139,000, down 0.4 percent from the revised July rate of 1,144,000 and down 2.3 percent from the August 2015 rate of 1,166,000. Building permits for single-family housing in August were estimated at 737,000, up 3.7 percent from the revised July rate of 711,000. Building permits for units in buildings with five units or more in August were at a rate of 370,000.
Privately-owned housing starts were at an adjusted rate of 1,142,000 in August, down 5.8 percent from July’s revised estimate of 1,212,000, but up 0.9 percent from the August 2015 rate of 1,132,000. Single-family housing starts were at a rate of 722,000 in August, down 6.0 percent from the revised July rate of 768,000. Starts for units in buildings with five units or more had an August rate of 403,000.
As for housing completions, the August rate for privately-owned housing was at a seasonally adjusted annual estimate of 1,043,000, a decrease of 3.4 percent from July’s revised rate of 1,080,000, but is up 8.3 percent from the August 2015 estimate of 963,000. Single-family housing completions were at a rate of 752,000 for August, putting it 0.3 percent below July’s revised rate of 754,000. The housing completion rate for units in buildings with five units or more was at 283,000 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 2016.