US Housing Starts Unexpectedly Fall in July


Housing starts in the United States slumped 4.8 percent from the previous month to a seasonally adjusted annualized rate of 1155 thousand in July of 2017, following a downwardly revised 1213 thousand in the previous month and compared to market expectations of a 0.5 percent rise. Starts declined in the Northeast, Midwest and the West.

Single-family starts, the largest segment of the market fell 0.5 percent to 856 thousand and the volatile multi-family segment slumped 17.1 percent to 287 thousand. Starts went down in the Northeast (-15.7 percent to 129 thousand); the Midwest (-15.2 percent to 179 thousand) and the West (-1.6 percent to 315 thousand) but rose 0.6 percent to 532 thousand in the South. 

Building permits dropped 4.1 percent to a seasonally adjusted annualized rate of 1,223 thousand, compared to market expectations of a 2 percent drop. Authorizations of units in buildings with five units or more declined by 12.1 percent to 377 thousand while single-family permits were unchanged at 811 thousand. Among regions, building permits fell in the Midwest (-17.4 percent to 171 thousand), the West (-7.9 percent to 315 thousand) and the South (-1.4 percent to 613 thousand), but rose in the Northeast (19.2 percent to 124 thousand).

US Housing Starts Unexpectedly Fall in July


U.S. Census Bureau | Joana Taborda | joana.taborda@tradingeconomics.com
8/16/2017 12:41:46 PM