U.S. Housing Starts Slip In August

Sept. 20, 2005
As expected, housing starts across the U.S. slipped in August. Starts for privately owned housing were at a seasonally adjusted annual rate of 2.009 million, 1.3% below the revised July figure of 2.035 million, the U.S. Commerce Department and the U.S. ...

As expected, housing starts across the U.S. slipped in August. Starts for privately owned housing were at a seasonally adjusted annual rate of 2.009 million, 1.3% below the revised July figure of 2.035 million, the U.S. Commerce Department and the U.S. Department of Housing and Urban Development reported on September 20.

Starts for single-family homes were at an annual rate of 1.709 million in August, one-tenth of a percentage point above the July rate of 1.707 million. However, the start rate for multi-family dwellings declined by 12.3% to 256,000.

The rate at which building permits are issued, generally a reliable predictor of future housing activity, declined in August, also as expected. Permits for privately owned housing units were at a seasonally adjusted annual rate of 2.124 million, 2.2% below the revised July rate of 2.171 million.

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