(09-19-18)

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for August 2018:

Building Permits – Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,229,000. This is 5.7 percent (±1.6 percent) below the revised July rate of 1,303,000 and is 5.5 percent (±1.6 percent) below the August 2017 rate of 1,300,000. Single-family authorizations in August were at a rate of 820,000; this is 6.1 percent (±1.7 percent) below the revised July figure of 873,000. Authorizations of units in buildings with five units or more were at a rate of 370,000 in August. Housing Starts – Privately-owned housing starts in August were at a seasonally adjusted annual rate of 1,282,000. This is 9.2 percent (±11.4 percent)* above the revised July estimate of 1,174,000 and is 9.4 percent (±9.4 percent) above the August 2017 rate of 1,172,000. Single-family housing starts in August were at a rate of 876,000; this is 1.9 percent (±9.7 percent)* above the revised July figure of 860,000. The August rate for units in buildings with five units or more was 392,000. Housing Completions – Privately-owned housing completions in August were at a seasonally adjusted annual rate of 1,213,000. This is 2.5 percent (±9.7 percent)* above the revised July estimate of 1,183,000 and is 11.2 percent (±11.4 percent)* above the August 2017 rate of 1,091,000. Single-family housing completions in August were at a rate of 923,000; this is 11.6 percent (±12.1 percent)* above the revised July rate of 827,000. The August rate for units in buildings with five units or more was 285,000.