July construction activity mixed

HUD and the Census Bureau have released statistics on new residential construction 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 more than the revised June rate of 1,292,000, and is 4.2 percent above the July 2017 rate of 1,258,000. Single-family authorizations in July were at a rate of 869,000, 1.9 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, 0.9 percent above the revised June estimate of 1,158,000, but 1.4 percent below the July 2017 rate of 1,185,000. Single-family housing starts in July were at a rate of 862,000, 0.9 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 below the revised June estimate of 1,209,000 and 0.8 percent below the July 2017 rate of 1,197,000. Single-family housing completions in July were at a rate of 814,000, 5.2 percent below the revised June rate of 859,000. The July rate for units in buildings with five units or more was 371,000.