The 2020 Mid-Year Economic Update_long

Residential Building Permits Up 18.8% in July

Housing starts also up compared to year-ago period and the previous month, according to the latest residential construction report from the U.S. Census Bureau.
building permits

Privately owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 1,495,000. This is 18.8% above the revised June rate of 1,258,000 and is 9.4% above the July 2019 rate of 1,366,000.

Single-family authorizations in July were at a rate of 983,000; this is 17.0 percent (±1.2 percent) above the revised June figure of 840,000. Authorizations of units in buildings with five units or more were at a rate of 467,000 in July.

Privately owned housing starts in July were at a seasonally adjusted annual rate of 1,496,000. This is 22.6% above the revised June estimate of 1,220,000 and is 23.4% above the July 2019 rate of 1,212,000. Single-family housing starts in July were at a rate of 940,000; this is 8.2% above the revised June figure of 869,000. The July rate for units in buildings with five units or more was 547,000.

Privately owned housing completions in July were at a seasonally adjusted annual rate of 1,280,000. This is 3.6% above the revised June estimate of 1,236,000 and is 1.7% above the July 2019 rate of 1,258,000. Single-family housing completions in July were at a rate of 909,000; this is 1.8% below the revised June rate of 926,000. The July rate for units in buildings with five units or more was 364,000.

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