The 2020 Mid-Year Economic Update_long

New Residential Construction Permits Down 5.6% in August

Privately-owned housing starts up 8 percent year-over-year.

Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 998,000.  This is 5.6 percent below the revised July rate of 1,057,000, but is 5.3 percent above the August 2013 estimate of 948,000.

Single-family authorizations in August were at a rate of 626,000; this is 0.8 percent below the revised July figure of 631,000.  Authorizations of units in buildings with five units or more were at a rate of 343,000 in August.

Privately-owned housing starts in August were at a seasonally adjusted annual rate of 956,000.  This is 14.4 percent below the revised July estimate of 1,117,000, but is 8 percent above the August 2013 rate of 885,000.

Single-family housing starts in August were at a rate of 643,000; this is 2.4 percent below the revised July figure of 659,000.  The August rate for units in buildings with five units or more was 304,000.

Privately-owned housing completions in August were at a seasonally adjusted annual rate of 892,000.  This is 3.2 percent above the revised July estimate of 864,000 and is 16.9 percent above the August 2013 rate of 763,000.

Single-family housing completions in August were at a rate of 591,000; this is 8.2 percent below the revised July rate of 644,000.  The August rate for units in buildings with five units or more was 292,000.

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