July 2016 Housing Starts Climb 5.6% Over July 2015

New residential construction report for July 2016

By Jeff Sorg, OnlineEd Blog

housing graph 3(August 18, 2016) – The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for July 2016:

BUILDING PERMITS Privately-owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 1,152,000. This is 0.1 percent (±1.2%)* below the revised June rate of 1,153,000, but is 0.9 percent (±1.5%)* above the July 2015 estimate of 1,142,000. Single-family authorizations in July were at a rate of 711,000; this is 3.7 percent (±1.4%) below the revised June figure of 738,000. Authorizations of units in buildings with five units or more were at a rate of 411,000 in July.

HOUSING STARTS Privately-owned housing starts in July were at a seasonally adjusted annual rate of 1,211,000. This is 2.1 percent (±8.8%)* above the revised June estimate of 1,186,000 and is 5.6 percent (±14.7%)* above the July 2015 rate of 1,147,000. Single-family housing starts in July were at a rate of 770,000; this is 0.5 percent (±8.6%)* above the revised June figure of 766,000. The July rate for units in buildings with five units or more was 433,000.

HOUSING COMPLETIONS Privately-owned housing completions in July were at a seasonally adjusted annual rate of 1,026,000. This is 8.3 percent (±8.9%)* below the revised June estimate of 1,119,000, but is 3.2 percent (±11.2%)* above the July 2015 rate of 994,000. Single-family housing completions in July were at a rate of 743,000; this is 0.4 percent (±8.8%)* below the revised June rate of 746,000. The July rate for units in buildings with five units or more was 275,000

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Jeff Sorg

About the Author

Jeff Sorg is a co-founder of OnlineEd®, a Web-based vocational school founded in 1997 where he also serves as Corporate Secretary, Chief Operating Officer, and School Director. Sorg holds vocational instructor licenses in Oregon, Washington, California, and Nevada and has authored numerous pre-licensing and continuing education courses. Sorg was awarded the International Distance Education Certification Center's CDEi Designation for distance education in 2008. OnlineEd® provides real estate, mortgage broker, insurance, and contractor pre-license, post-license, continuing education, career enhancement, and professional development and designation courses over the Internet.