Housing Starts Show Some Life in July

Housing starts slowed in July after a 14.6 percent surge in June, according to the U.S Census Bureau. Privately-owned housing starts in July were at a seasonally adjusted annual rate of 604,000, 1.5 percent below the June estimate of 613,000, but 9.8 percent above the July 2010 rate of 550,000. Single-family housing starts in July were at a rate of 425,000, 4.9 percent below the revised June figure of 447,000. The July rate for units in buildings with five units or more was 170,000.

Privately-owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 597,000, 3.2 percent below the revised June rate of 617,000, but 3.8 percent above the July 2010 estimate of 575,000. Single-family authorizations in July were at a rate of 404,000, 0.5 percent above the revised June figure of 402,000. Building permits for structures with five units or more were at a rate of 171,000 in July.

New Privately Owned Housing Units Started

(Thousands of units, seasonally adjusted annual rate)

Period Total 1 Unit 5 Units or more Northeast Midwest South West July, 2010 550 429 102 76 92 275 107 Feb. 2011 518 388 112 55 63 310 90 March 2011 593 418 164 61 81 337 114 April 2011 549 411 124 60 96 274 119 May 2011₂ 553 416 131 56 99 264 134 June 2011₂ 613 447 160 72 122 287 132 July 2011₁ 604 425 170 97 76 303 128

1-Preliminary; 2-Revised; Note: Detail may not add to total because of rounding.

Source: U.S. Bureau of the Census