Housing starts decreased in July

Housing starts dipped 1.1 percent from June to July, according to USA Today. Construction decreased to a seasonally adjusted annual rate of 746,000 compared with 754,000 in June.

Additionally, single-family construction dropped 6.5 percent to 502,000 in July compared with 537,000 in June.

Building permit applications, which are viewed as a barometer of future construction, rose 6.8 percent to their highest level since August 2008. However, even with the gains, the level of permits remain only about half the 1.5 million annual rate considered healthy.

Date : 8/23/2012


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