August Residential Construction Numbers Disappoint
August Residential Construction Numbers Disappoint
August Residential Construction Numbers Disappoint
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September 20, 2011 (Chris Moore)

Construction of new residential housing remained in the doldrums in August as both single-family and multi-family construction activity posted monthly declines according to the latest data released by the Census Bureau.

Privately owned housing starts declined by 5.0 percent in August compared to July with a seasonally adjusted annual rate of 571,000 starts reported in August compared to July’s revised estimate of 601,000 starts. Housing starts were 5.8 percent lower than the August 2010 rate of 606,000 starts.

Single-family housing starts in August decreased from July’s revised figure of 423,000 to 417,000, a decline of 1.4 percent, and multi-family dwellings declined 12.4 percent from a revised 169,000 starts in July to 148,000 in August.

The number of building permits issued in August was higher than in July as builders were authorized a seasonally adjusted annual rate of 620,000 permits in August compared to a revised 601,000 in July, an increase of 3.2 percent. The number of permits issued were also above last years levels, which had an estimated 575,000 permits authorized.

Single-family building permit authorizations were 2.5 percent higher in August than July with 413,000 permits authorized compared to a revised 403,000 in July. Multi-family dwelling permits in August increased to 178,000 authorizations from a revised amount of 177,000 in July.

Housing completions declined in August compared to July with a seasonally adjusted annual rate of 623,000 completions reported compared to July’s revised estimate of 640,000 completions. Housing completions in August were 2.6 percent higher than the August 2010 rate of 607,000 completions.

Single-family completions in August were at a rate of 477,000, a decline of 0.2 percent from July’s revised rate of 478,000. Multi-family completions in August were at a rate of 143,000 which was a 7.1 percent decline from July’s 154,000 completions.

Regionally, housing starts increased in two of the four regions with the Midwest and the West posting gains of 2.6 percent and 2.2 percent, respectively, and the Northeast and the South posting declines of 29.1 percent and 3.3 percent, respectively.

Compared to a year ago, three of the four regions posted declines in housing starts with only the South region posting an increase.

Building permit authorizations increased in three of the four regions in August compared to July. In the Midwest, authorizations increased 6.3 percent and in the Northeast authorizations increased 3.3 percent. In the West, building permit authorizations were 11.3 percent higher, while in the South authorizations were 1.3 percent lower.

Building permit authorizations increased in three of the four regions compared to a year ago with only the Northeast posting a decline.

Tags: housing starts, single-family homes, multi-family dwellings, building permits, housing completions

Source:
Census Bureau

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September 20, 2011 (Chris Moore)

Construction of new residential housing remained in the doldrums in August as both single-family and multi-family construction activity posted monthly declines according to the latest data released by the Census Bureau.

Privately owned housing starts declined by 5.0 percent in August compared to July with a seasonally adjusted annual rate of 571,000 starts reported in August compared to July’s revised estimate of 601,000 starts. Housing starts were 5.8 percent lower than the August 2010 rate of 606,000 starts.

Single-family housing starts in August decreased from July’s revised figure of 423,000 to 417,000, a decline of 1.4 percent, and multi-family dwellings declined 12.4 percent from a revised 169,000 starts in July to 148,000 in August.

The number of building permits issued in August was higher than in July as builders were authorized a seasonally adjusted annual rate of 620,000 permits in August compared to a revised 601,000 in July, an increase of 3.2 percent. The number of permits issued were also above last years levels, which had an estimated 575,000 permits authorized.

Single-family building permit authorizations were 2.5 percent higher in August than July with 413,000 permits authorized compared to a revised 403,000 in July. Multi-family dwelling permits in August increased to 178,000 authorizations from a revised amount of 177,000 in July.

Housing completions declined in August compared to July with a seasonally adjusted annual rate of 623,000 completions reported compared to July’s revised estimate of 640,000 completions. Housing completions in August were 2.6 percent higher than the August 2010 rate of 607,000 completions.

Single-family completions in August were at a rate of 477,000, a decline of 0.2 percent from July’s revised rate of 478,000. Multi-family completions in August were at a rate of 143,000 which was a 7.1 percent decline from July’s 154,000 completions.

Regionally, housing starts increased in two of the four regions with the Midwest and the West posting gains of 2.6 percent and 2.2 percent, respectively, and the Northeast and the South posting declines of 29.1 percent and 3.3 percent, respectively.

Compared to a year ago, three of the four regions posted declines in housing starts with only the South region posting an increase.

Building permit authorizations increased in three of the four regions in August compared to July. In the Midwest, authorizations increased 6.3 percent and in the Northeast authorizations increased 3.3 percent. In the West, building permit authorizations were 11.3 percent higher, while in the South authorizations were 1.3 percent lower.

Building permit authorizations increased in three of the four regions compared to a year ago with only the Northeast posting a decline.

Tags: housing starts, single-family homes, multi-family dwellings, building permits, housing completions

Source:
Census Bureau

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September 20, 2011 (Chris Moore)

Construction of new residential housing remained in the doldrums in August as both single-family and multi-family construction activity posted monthly declines according to the latest data released by the Census Bureau.

Privately owned housing starts declined by 5.0 percent in August compared to July with a seasonally adjusted annual rate of 571,000 starts reported in August compared to July’s revised estimate of 601,000 starts. Housing starts were 5.8 percent lower than the August 2010 rate of 606,000 starts.

Single-family housing starts in August decreased from July’s revised figure of 423,000 to 417,000, a decline of 1.4 percent, and multi-family dwellings declined 12.4 percent from a revised 169,000 starts in July to 148,000 in August.

The number of building permits issued in August was higher than in July as builders were authorized a seasonally adjusted annual rate of 620,000 permits in August compared to a revised 601,000 in July, an increase of 3.2 percent. The number of permits issued were also above last years levels, which had an estimated 575,000 permits authorized.

Single-family building permit authorizations were 2.5 percent higher in August than July with 413,000 permits authorized compared to a revised 403,000 in July. Multi-family dwelling permits in August increased to 178,000 authorizations from a revised amount of 177,000 in July.

Housing completions declined in August compared to July with a seasonally adjusted annual rate of 623,000 completions reported compared to July’s revised estimate of 640,000 completions. Housing completions in August were 2.6 percent higher than the August 2010 rate of 607,000 completions.

Single-family completions in August were at a rate of 477,000, a decline of 0.2 percent from July’s revised rate of 478,000. Multi-family completions in August were at a rate of 143,000 which was a 7.1 percent decline from July’s 154,000 completions.

Regionally, housing starts increased in two of the four regions with the Midwest and the West posting gains of 2.6 percent and 2.2 percent, respectively, and the Northeast and the South posting declines of 29.1 percent and 3.3 percent, respectively.

Compared to a year ago, three of the four regions posted declines in housing starts with only the South region posting an increase.

Building permit authorizations increased in three of the four regions in August compared to July. In the Midwest, authorizations increased 6.3 percent and in the Northeast authorizations increased 3.3 percent. In the West, building permit authorizations were 11.3 percent higher, while in the South authorizations were 1.3 percent lower.

Building permit authorizations increased in three of the four regions compared to a year ago with only the Northeast posting a decline.

Tags: housing starts, single-family homes, multi-family dwellings, building permits, housing completions

Source:
Census Bureau

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.