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“Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,229,000,” the U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced on Tuesday and added: “This is 5.7 percent below the revised July rate of 1,303,000 and is 5.5 percent  below the August 2017 rate of 1,300,000.”

Key takeaways from the press release

  • Privately-owned housing starts in August were at a seasonally adjusted annual rate of 1,282,000.
    • This is 9.2  percent above the revised July estimate of 1,174,000 and is 9.4 percent above the August 2017 rate of 1,172,000.
    • Single-family housing starts in August were at a rate of 876,000; this is 1.9 percent  above the revised July figure of 860,000.
    • The August rate for units in buildings with five units or more was 392,000.  
  • Privately-owned housing completions in August were at a seasonally adjusted annual rate of 1,213,000.
    • This is 2.5 percent above the revised July estimate of 1,183,000 and is 11.2 percent above the August 2017 rate of 1,091,000.