Keeping you up to date on the latest data releases.
- Housing Starts
The housing market improved modestly in July with privately owned housing prices increasing 1.7 percent. Privately owned housing starts were at a seasonally adjusted annual rate of 546,000. While July housing starts marked an improvement over June’s performance, the figure is still down 7.0 percent for the twelve month period ending in July. Multi-family starts were the primary drive for the July’s improvement, increasing 32.6 percent after declining 33.3 percent in June. Conversely, single family starts fell for the third consecutive month, declining 4.2 percent. On a regional basis, housing starts were led by the South with 3.9 percent increase. In Northeast, West, and Midwest, housing starts were down 25.9 percent, 4.9 percent, and 1.1 percent respectively. Finally, July building permits stood at a seasonally adjusted annual rate of 565,000, 3.1 percent below the revised June rate of 583,000 and down 3.7 percent for the twelve month period ending in July. Additionally, single family were at a rate of 416,000, 1.2 percent below the revised June figure.