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Tuesday, September 20, 2016

Housing Starts Down in August Following Three Monthly Gains

Housing starts fell to a seasonally adjusted annual rate of 1.142 million in August, 5.8% below the revised July rate of 1.212 million, but 0.9% above the August 2015 rate.



Housing activity increased in most regions, rising 7.6% in the Northeast, 5.6% in the Midwest, and 1.8% in the West. These increases were more than offset by a 14.8% decline in the South, however.


New building permits also slipped during the month, falling 0.4% to 1.139 million. Permits were down 2.3% from the August 2015 rate.

Housing completions were at a seasonally adjusted annual rate of 1.043 million, down 3.4% from the revised July estimate, but 8.3% above the August 2015 rate.

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