Housing Starts Lowest Since February 2021

The U.S. government is reporting that privately‐owned housing starts in July were at a seasonally adjusted annual rate of 1,446,000, which is 9.6% lower than June’s revised number and 8.1% lower than one year ago. July’s rate for units in buildings with five units or more was 514k. Privately‐owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 1,674,000, which is 1.3% lower than June’s revised number. Authorizations of units in buildings with five units or more were at a rate of 693k in June. Continue reading HERE...