Housing starts decrease slightly in August

Housing starts fell 0.8 percent from July to August, according to the U.S. Census Bureau. Construction decreased to a seasonally adjusted annual rate of 1.18 million compared with a revised estimate of 1.19 million in July.

Single-family housing starts increased 1.6 percent to 851,000. Building permit applications, which are viewed as a barometer of future construction, increased 5.7 percent in August to 1.3 million.

Housing starts are well above the April 2009 annual rate of 478,000, which was the recession low. They also are 1.4 percent higher than in August 2016. A 1.5 million annual rate still is needed to be considered healthy.

Date : 9/19/2017