Single-Family Housing Starts Up 6.7%

Single‐family housing starts in July were at a rate of 983,000, according to data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. July’s level was 6.7% above the revised June figure of 921,000.

Privately‐owned housing starts in July were at a seasonally adjusted annual rate of 1.45 million, a 3.9% increase from the revised June estimate of 1.39 million and 5.9% above the July 2022 rate of 1.37 million.

Single‐family authorizations in July were at a rate of 930,000, a 0.6% uptick from the revised June figure of 924,000. Privately‐owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 1.442 million, a scant 0.1% bump up from the revised June rate of 1.441 million but is 13% below the July 2022 rate of 1.65 million.

Single‐family housing completions in July were at a rate of 1.01 million, a 1.3% uptick from the revised June rate of 1 million. Privately‐owned housing completions in July were at a seasonally adjusted annual rate of 1.32 million, an 11.8% decline from the revised June estimate of 1.49 million and 5.4% below the July 2022 rate of 1.39 million.