The 2020 Mid-Year Economic Update_long

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:


 


Building Permits


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 (1.2%) below the revised July rate of 1,763,000 and is 21.9 percent (1.3%) 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 (1.2%) 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.


 


Housing Starts


Privately-owned housing starts in August were at a seasonally adjusted annual rate of 1,665,000. This is 6.0 percent (9.2%)* below the revised July estimate of 1,772,000 and is 19.8 percent (5.0%) below the August 2005 rate of 2,075,000. Single-family housing starts in August were at a rate of 1,360,000; this is 5.9 percent (8.1%)* below the July figure of 1,445,000. The August rate for units in buildings with five units or more was 265,000.


 


Housing Completions


Privately-owned housing completions in August were at a seasonally adjusted annual rate of 1,868,000. This is 3.2 percent (10.4%)* below the revised July estimate of 1,929,000 and is 4.4 percent (7.4%)* below the August 2005 rate of 1,954,000. Single-family housing completions in August were at a rate of 1,618,000; this is 2.5 percent (11.1%)* below the July figure of 1,660,000. The August rate for units in buildings with five units or more was 230,000.

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