U.S. Residential Construction Activity Declines in August

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Based on new data from the U.S. Census Bureau and the Department of Housing and Urban Development (HUD), new residential construction activity in the U.S. reported monthly declines in multiple construction categories for August 2014.
 
Building Permits

Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 998,000. This is 5.6 percent (±1.4%) below the revised July rate of 1,057,000, but is 5.3 percent (±1.7%) above the August 2013 estimate of 948,000.

Single-family authorizations in August were at a rate of 626,000; this is 0.8 percent (±1.5%) below the revised July figure of 631,000. Authorizations of units in buildings with five units or more were at a rate of 343,000 in August.

Housing Starts

Privately-owned housing starts in August were at a seasonally adjusted annual rate of 956,000. This is 14.4 percent (±7.9%) below the revised July estimate of 1,117,000, but is 8.0 percent (±11.2%) above the August 2013 rate of 885,000.

Single-family housing starts in August were at a rate of 643,000; this is 2.4 percent (±9.7%) below the revised July figure of 659,000.

The August rate for units in buildings with five units or more was 304,000.
 
Housing Completions

Privately-owned housing completions in August were at a seasonally adjusted annual rate of 892,000. This is 3.2 percent (±13.0%) above the revised July estimate of 864,000 and is 16.9 percent (±14.7%) above the August 2013 rate of 763,000.

Single-family housing completions in August were at a rate of 591,000; this is 8.2 percent (±9.7%) below the revised July rate of 644,000. The August rate for units in buildings with five units or more was 292,000.