Housing starts decreased in July

Housing starts fell 4.8 percent from June to July, according to the U.S. Census Bureau. Construction decreased to a seasonally adjusted annual rate of 1.155 million compared with a revised estimate of 1.213 million in June.

Single-family housing starts decreased 0.5 percent to 856,000. Building permit applications, which are viewed as a barometer of future construction, fell 4.1 percent in July to 1.223 million.

Housing starts are well above the April 2009 annual rate of 478,000, which was the recession low. However, they are 5.6 percent lower than in July 2016. A 1.5 million annual rate still is needed to be considered healthy.

Date : 8/16/2017