The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for August 2016:

BUILDING PERMITS

Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,139,000. This is 0.4 percent (±1.6%) below the revised July rate of 1,144,000 and is 2.3 percent (±1.5%) below the August 2015 estimate of 1,166,000. Single-family authorizations in August were at a rate of 737,000; this is 3.7 percent (±3.0%) above the revised July figure of 711,000. Authorizations of units in buildings with five units or more were at a rate of 370,000 in August.

HOUSING STARTS

Privately-owned housing starts in August were at a seasonally adjusted annual rate of 1,142,000. This is 5.8 percent (±9.7%)* below the revised July estimate of 1,212,000, but is 0.9 percent (±12.5%) above the August 2015 rate of 1,132,000. Single-family housing starts in August were at a rate of 722,000; this is 6.0 percent (±8.2%)* below the revised July figure of 768,000.

The August rate for units in buildings with five units or more was 403,000.

HOUSING COMPLETIONS

Privately-owned housing completions in August were at a seasonally adjusted annual rate of 1,043,000. This is 3.4 percent (±10.9%) below the revised July estimate of 1,080,000, but is 8.3 percent (±11.8%)* above the August 2015 rate of 963,000. Single-family housing completions in August were at a rate of 752,000; this is 0.3 percent (±10.2%)* below the revised July rate of 754,000. The August rate for units in buildings with five units or more was 283,000.

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