Housing Starts Down 7% in July

The U.S. government is reporting that privately‐owned housing starts in July were at a seasonally adjusted annual rate of 1,534,000, which is 7% lower than June’s revised number. However, this figure is 2.5% higher than one year ago. July’s rate for units in buildings with five units or more was 412k. Privately‐owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 1,635,000, which was 2.6% higher than June’s revised number. Authorizations of units in buildings with five units or more were at a rate of 532k in July. Continue reading HERE...