New home construction had a bit of a bounce back in August, according to the latest numbers out from the U.S. Census Bureau and HUD.
Privately‐owned housing starts in August were up 12.2 percent at a seasonally adjusted annual rate of 1,575,000. Single‐family housing starts in August were at a rate of 935,000—3.4 percent above the revised July figure of 904,000.
The August rate for units in buildings with five units or more was 621,000.
Permits, however, were down for the month. Privately‐owned housing units authorizations fell 10 percent between July and August and is 14.4 percent below the August 2021. Single‐family permits in August were 3.5 percent below the revised July figure of 932,000.
Authorizations of units in buildings with five units or more were at a rate of 571,000 in August.
Privately‐owned housing completions in August were down 5.4 percent July, but were 3.1 percent above the August 2021 rate of 1,302,000. Single‐family housing completions in August were 0.4 percent above this past July at a rate of 1,017,000.