Building Permits and Housing Starts Regain Footing

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Posted To: MND NewsWire

Housing starts rose in July while permits fell from the previous month’s rate for the third consecutive time. Both indicators, however, regained a positive year-over-year status. The U.S. Census Bureau and the Department of Housing and Urban Development reported that permits for residential construction were issued at a seasonally adjusted annual rate of 1,152,000 in July, 0.1 percent fewer than the 1,153,000 annual rate in June. The June rate was reported as revised, but that revision was lost in rounding. Permitting rates fell below those for the comparable month in 2015 in both May and June, by 10.1 percent and 13.5 percent respectively, but eked out a 0.9 percent year-over-year gain in July. The July estimate was below even the lower range of estimates from analysts polled by Econoday which…(read more)

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