Single-Family Housing Starts and Permits Up Year-Over-Year in August

The U.S. Census Bureau has reported that privately‐owned housing starts in August were at a seasonally adjusted annual rate (SAAR) of 1,416,000. This is -5.1% below the revised July estimate of 1,492,000, but is 2.8% above the August 2019 rate. Single-family housing starts in August were at a rate of 1,021,000; this is 4.1% above the revised July figure of 981,000. The August rate for units in buildings with five units or more was 375,000. Building Permits are the forward-looking portion of the report and for August privately-owned housing units authorized by building permits were at a SAAR of 1,470,000. This is -0.9% below the revised July rate of 1,483,000 and is -0.1% below the August 2019 rate. Single-family authorizations in August were at a rate of 1,036,000; this is 6.0 % above the revised July figure of 977,000. Authorizations of units in buildings with five units or more were at a rate of 381,000. Privately-owned housing completions in August were at a seasonally adjusted annual rate of 1,233,000. This is -7.5% below the revised July estimate of 1,333,000 and is -2.4% below the August 2019 rate. Single-family housing completions in August were at a rate of 912,000; this is -4.4% below the revised July rate of 954,000. The August rate for units in buildings with five units or more was 312,000.