The U.S. Census Bureau released its monthly new residential construction report for August on Sept. 17, showing a decline in housing starts month-over-month, and year-over-year.

Housing Starts

Privately-owned housing starts in August were at a seasonally-adjusted rate of 1.307 million, down 8.5% from July’s revised estimate of 1.429 million and down 6.0% year-over-year. Single-family housing starts were at a rate of 890,000, down 7.0% from July.

Building Permits

August’s privately-owned housing units authorized by building permits were at a seasonally-adjusted rate of 1.312 million, down 3.7% from July’s revised rate and down 11.1% year-over-year. Single-family authorizations were at a rate of 866,000, down 2.2% from July.

Housing Completions

In August, privately-owned housing completions were at a seasonally-adjusted annual rate of 1.608 million, 8.4% above the revised July estimate of 1.483 million, but 8.4% below the August 2024 rate of 1.755 million. Single-family housing completions were at a rate of 1.090 million, 6.7% above the revised July rate of 1.022 million.