The U.S. Government is reporting that privately owned housing starts in August were at a seasonally adjusted annual rate of 1,180,000. This is 0.8% below July’s estimate of 1,190,000, but it is 1.4% higher than August 2016. Single-family housing starts in August were at a rate of 851,000; this is 1.6% above July’s rate of 838k. The August rate for units in buildings with five units or more was 323k. Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,300,000. This is 5.7% higher than July’s rate of 1,230,000 and is 8.3% higher than August 2016. Single-family authorizations in August were at a rate of 800k. This number is 1.5% below July’s figure of 812k. Authorizations of units in buildings with five units or more were at a rate of 464k in August.
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