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Commerce Department: August 2012 Housing Starts Rise 2.3% September 19, 2012
BUILDING PERMITS Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 803,000. This is 1.0 percent (±1.2%) below the revised July rate of 811,000, but is 24.5 percent (±1.7%) above the August 2011 estimate of 645,000.
Single-family authorizations in August were at a rate of 512,000; this is 0.2 percent (±0.8%)* above the revised July figure of 511,000. Authorizations of units in buildings with five units or more were at a rate of 263,000 in August. HOUSING STARTS Privately-owned housing starts in August were at a seasonally adjusted annual rate of 750,000. This is 2.3 percent (±10.2%) above the revised July estimate of 733,000 and is 29.1 percent (±12.8%) above the August 2011 rate of 581,000.
Single-family housing starts in August were at a rate of 535,000; this is 5.5 percent (±10.4%) above the revised July figure of 507,000.
HOUSING COMPLETIONS Privately-owned housing completions in August were at a seasonally adjusted annual rate of 689,000. This is 0.7 percent (±18.8%) above the revised July estimate of 684,000 and is 11.7 percent (±17.5%) above the August 2011 rate of 617,000. Single-family housing completions in August were at a rate of 489,000; this is 5.4 percent (±14.3%) above the revised July rate of 464,000. The August rate for units in buildings with five units or more was 193,000. |
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The
U.S. Census Bureau and the Department of Housing and Urban Development
reported that housing starts increased 2.3 percent to a seasonally
adjusted annual rate of 750,000 units. July's starts were revised down
to 733,000-unit pace from 746,000. Economists were expecting
August 2012 residential construction to rise to a 765,000-unit rate.
