Housing Shows Solid Gains in July with 5.9% Gain MTM and 20.9% Pop YTY

“This report is in line with our forecast for continued, gradual strengthening of housing starts and permit activity through the rest of the year,” said NAHB Chief Economist David Crowe. “The double-digit bounce-back on the multi-family side was in keeping with typical month-to-month volatility in that sector, while the sideways movement in single-family was a result of unusually wet weather in the South and West.”