Housing starts rose to a seasonally adjusted annual rate of 1.211 million in July, 2.1% above the revised June estimate of 1.186 million and 5.6% above the July 2015 rate.
Housing activity increased in most regions, rising 15.5% in the Northeast, 3.5% in the South and 2.3% in the Midwest. Starts fell 5.9% in the West region.
New building permits slipped during the month, falling 0.1% to 1.152 million. Permits rose year-over-year, rising 0.9% from July 2015.
Housing completions were at a seasonally adjusted rate of 1.026 million, down 8.3% from June’s estimate but 3.2% above the July 2015 rate.
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