Housing Starts and Permits Increased in August, While Housing Completions Trended Lower

The U.S. Census Bureau on Tuesday (9-21-21) reported that privately‐owned housing starts in August were at a seasonally adjusted annual rate (SAAR) of 1,615,000. This is 3.9% above the revised July rate of 1,554,000 and is 17.4% above the August 2020 rate of 1,376,000. Single-family housing starts in August were at a rate of 1,076,000; and this is -2.8% below the revised July figure. The August rate for units in buildings with five units or more was 530,000.

Building Permits are the forward-looking portion of the report, and in August privately-owned housing units authorized by building permits were at a SAAR of 1,728,000. This is 6.0% above the revised July rate of 1,630,000 and is 13.0% above the August 2020 rate. Single-family authorizations in August were at a rate of 1,054,000; this is 0.6% above the revised July figure of 1,048,000. Authorizations of units in buildings with five units or more were at a rate of 632,000.

Privately-owned housing completions in August were at a seasonally adjusted annual rate of 1,330,000. This is -4.5% below the revised July estimate of 1,392,000 but is 9.4% above the August 2020 rate of 1,216,000. Single‐family housing completions in August were at a rate of 971,000; this is 2.8% above the revised July rate of 945,000. The August rate for units in buildings with five units or more was 356,000.