Housing Begins Elevated to 1.356 million Annual Fee in August

by Calculated Danger on 9/18/2024 08:30:00 AM

From the Census Bureau: Permits, Begins and Completions

Housing Begins:
Privately-owned housing begins in August had been at a seasonally adjusted annual price of 1,356,000. That is 9.6 p.c
above the revised July estimate of 1,237,000 and is 3.9 p.c above the August 2023 price of 1,305,000. Single-family housing begins in August had been at a price of 992,000; that is 15.8 p.c above the revised July determine of 857,000. The August price for items in buildings with 5 items or extra was
333,000.

Constructing Permits:
Privately-owned housing items approved by constructing permits in August had been at a seasonally adjusted annual price of
1,475,000. That is 4.9 p.c above the revised July price of 1,406,000, however is 6.5 p.c under the August 2023
price of 1,578,000. Single-family authorizations in August had been at a price of 967,000; that is 2.8 p.c above the
revised July determine of 941,000. Authorizations of items in buildings with 5 items or extra had been at a price of 451,000
in August.
emphasis added

Click on on graph for bigger picture.

The primary graph reveals single and multi-family housing begins since 2000.

Multi-family begins (blue, 2+ items) elevated in August in comparison with July.   Multi-family begins had been up 5.5% year-over-year.

Single-family begins (purple) elevated in August and had been up 5,1% year-over-year.

The second graph reveals single and multi-family housing begins since 1968.

This reveals the massive collapse following the housing bubble, after which the eventual restoration – and the latest collapse and restoration in single-family begins.

Complete housing begins in August had been above expectations and begins in June and July had been revised barely.  

I will have extra later …