July housing numbers continue to trend down
Permits dip 3%; starts slide 7% year over year; completions fall 25% for month from 2009.
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announces the following new residential construction statistics for July 2010:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 565,000. This is 3.1 percent (±2.0%) below the revised June rate of 583,000 and is 3.7 percent (±2.2%) below the July 2009 estimate of 587,000.
Single-family authorizations in July were at a rate of 416,000; this is 1.2 percent (±1.2%)* below the revised June figure of 421,000.
Authorizations of units in buildings with five units or more were at a rate of 129,000 in July.
HOUSING STARTS
Privately-owned housing starts in July were at a seasonally adjusted annual rate of 546,000. This is 1.7 percent (±9.7%)* above the revised June estimate of 537,000, but is 7.0 percent (±7.5%)* below the July 2009 rate of 587,000.
Single-family housing starts in July were at a rate of 432,000; this is 4.2 percent (±8.7%)* below the revised June figure of 451,000.
The July rate for units in buildings with five units or more was 95,000.
HOUSING COMPLETIONS
Privately-owned housing completions in July were at a seasonally adjusted annual rate of 587,000. This is 32.8 percent (±6.8%) below the revised June estimate of 874,000 and is 25.4 percent (±7.3%) below the July 2009 rate of 787,000.
Single-family housing completions in July were at a rate of 490,000; this is 27.5 percent (±7.6%) below the revised June rate of 676,000. The July rate for units in buildings with five units or more was 91,000.
