Housing Starts Ooze Up 0.9% for August

Housing starts increased 0.9% for August to a seasonally adjusted annual rate of 891,000, according to a Commerce Department report (link opens a PDF) released today.

After July's report was revised down to 883,000 from an unrevised 896,000, these latest numbers managed to sneak into positive territory. But 0.9% gains fell short for analysts, who had expected another solid growth month at an annual rate of 915,000.

Included in the overall 891,000 rate was a 7% increase in construction starts of single-family homes, which rose to a seasonally adjusted annual rate of 628,000. That's the fastest rate since February. The gain in single-family homes construction was offset by a decline in volatile demand for apartments. 


In a sign of potential contraction ahead, housing permits fell 3.8% to a seasonally adjusted annual rate of 918,000, while housing completions finished off the month 0.3% above July at a 769,000 rate. 

Over the last year, housing starts have jumped 19%, permits are up 11%, and completions have notched 12.1% gains. 

Today's news comes a day after a September report revealed that homebuilder confidence has remained steady for the second month at recovery-high levels.

-- Material from The Associated Press was used in this report.


Read/Post Comments (0) | Recommend This Article (1)

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2643800, ~/Articles/ArticleHandler.aspx, 9/29/2016 9:43:00 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 27 minutes ago Sponsored by:
DOW 18,143.45 -195.79 -1.07%
S&P 500 2,151.13 -20.24 -0.93%
NASD 5,269.15 -49.39 -0.93%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes