Housing Starts & Building Permits Drop Sharply in July

The U.S. government is reporting that privately‐owned housing starts in July, 2024 were at a seasonally adjusted annual rate of 1,238,000, which is 6.8% lower than June’s revised number and is 16% lower than one year ago.  July’s rate for units in buildings with five units or more was 363k.  Privately‐owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 1,396,000, which is 4% lower than June’s revised number and 7% lower than one year ago.  Authorizations of units in buildings with five units or more were at a rate of 408k in June.

Click here to read the full report at the U.S. Census Bureau.