(08-16-18)

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for July 2018: Building Permits – Privately-owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 1,311,000. This is 1.5 percent (±1.3 percent) above the revised June rate of 1,292,000 and is 4.2 percent (±1.7 percent) above the July 2017 rate of 1,258,000. Single-family authorizations in July were at a rate of 869,000; this is 1.9 percent (±1.4 percent) above the revised June figure of 853,000.

Authorizations of units in buildings with five units or more were at a rate of 410,000 in July. Housing Starts – Privately-owned housing starts in July were at a seasonally adjusted annual rate of 1,168,000. This is 0.9 percent (±11.5 percent)* above the revised June estimate of 1,158,000, but is 1.4 percent (±11.7 percent)* below the July 2017 rate of 1,185,000. Single-family housing starts in July were at a rate of 862,000; this is 0.9 percent (±9.6 percent)* above the revised June figure of 854,000. The July rate for units in buildings with five units or more was 303,000. Housing Completions – Privately-owned housing completions in July were at a seasonally adjusted annual rate of 1,188,000. This is 1.7 percent (±10.9 percent)* below the revised June estimate of 1,209,000 and is 0.8 percent (±11.3 percent)* below the July 2017 rate of 1,197,000. Single-family housing completions in July were at a rate of 814,000; this is 5.2 percent (±7.8 percent)* below the revised June rate of 859,000. The July rate for units in buildings with five units or more was 371,000.