Privately-owned housing starts in July were at a seasonally adjusted annual rate of 965,000, 11% below the revised June estimate and 29.6% below the revised July 2007 rate, according to the U.S. Census Bureau and the Department of Housing and Urban Development.
Single-family housing starts in July were at a rate of 641,000; this is 2.9% below the June figure of 660,000. The July rate for units in buildings with five units or more was 309,000.
Year-to-date, the U.S. West saw the most dramatic drop, with a decline in housing starts of 37.7%. In the Midwest, starts fell 32.7%, and in the South housing starts were down 30.3%. The Northeast saw a milder drop of 5.8%.
Building Permits
Privately-owned housing units authorized by building …
Housing Starts Fall 11% From June
Privately-owned housing starts in July were at a seasonally adjusted annual rate of 965,000, 11% below the revised June estimate and 29.6% below the revised July 2007 rate, according to the U.S. Census Bureau and the Department of Housing and Urban Development.
Single-family housing starts in July were at a rate of 641,000; this is 2.9% below the June figure of 660,000. The July rate for units in buildings with five units or more was 309,000.
Year-to-date, the U.S. West saw the most dramatic drop, with a decline in housing starts of 37.7%. In the Midwest, starts fell 32.7%, and in the South housing starts were down 30.3%. The Northeast saw a milder drop of 5.8%.
Building Permits
Privately-owned housing units authorized by building …
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