Housing starts climb in August
Both single- and multi-family starts climb.
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for August 2010:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 569,000. This is 1.8 percent (±2.0%)* above the revised July rate of 559,000, but is 6.7 percent (±1.4%) below the August 2009 estimate of 610,000.
Single-family authorizations in August were at a rate of 401,000; this is 1.2 percent (±1.0%) below the revised July figure of 406,000.
Authorizations of units in buildings with five units or more were at a rate of 150,000 in August.
HOUSING STARTS
Privately-owned housing starts in August were at a seasonally adjusted annual rate of 598,000. This is 10.5 percent (±11.9%)* above the revised July estimate of 541,000 and is 2.2 percent (±9.7%)* above the August 2009 rate of 585,000.
Single-family housing starts in August were at a rate of 438,000; this is 4.3 percent (±12.4%)* above the revised July figure of 420,000.
The August rate for units in buildings with five units or more was 147,000.
HOUSING COMPLETIONS
Privately-owned housing completions in August were at a seasonally adjusted annual rate of 603,000. This is 5.6 percent (±12.6%)* above the revised July estimate of 571,000, but is 23.7 percent (±9.6%) below the August 2009 rate of 790,000.
Single-family housing completions in August were at a rate of 482,000; this is 1.3 percent (±12.0%)* above the revised July rate of 476,000.
The August rate for units in buildings with five units or more was 115,000.
