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Building Permits Continue Higher; Housing Starts Ebb

Thursday, September 17, 2015

This morning's Residential Construction report from the Census Bureau and Department of Housing and Urban Development for August was mixed with a moderate increase in building permits and a corresponding downturn in housing starts.  Housing completions were well above those in July.

Housing permits were issued at a seasonally adjusted annual rate of 1,170,000, an increase of 3.5 percent from July and well above analysts' consensus expectations of 1,160,000 as reported by Bloomberg.  The July rate was revised to 1,130,000 from the 1,119,000 originally reported.  The August permitting rate was 12.5 percent higher than the seasonally adjusted annual rate of 1,040,000 in August 2014.

 

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