August Housing Starts Fall 6% from July, 19.8% from Last Year
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for August 2006:
Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,722,000. This is 2.3 percent (ﾱ1.2%) below the revised July rate of 1,763,000 and is 21.9 percent (ﾱ1.3%) below the August 2005 estimate of 2,205,000. Single-family authorizations in August were at a rate of 1,279,000; this is 3.5 percent (ﾱ1.2%) below the July figure of 1,325,000. Authorizations of units in buildings with five units or more were at a rate of 370,000 in August.