Housing Starts Slowed in July
The U.S. Census Bureau and the Department of Housing and Urban Development announced that privately-owned housing starts contracted 1.0% from June. The seasonally adjusted estimate for July was 581,000 while the estimate for June was 587,000.
The number of building permits for privately-owned hosuing issued in July was also smaller than the number in June. After seasonal adjustment 560,000 permits were issued in July, a 1.8% decline from June.
Single-family housing starts and permits rose in July, however, by 1.7% and 5.8%, respectively, from the month of June.
