New Home Construction Falters in July
New Home Construction Falters in July
New Home Construction Falters in July
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August 17, 2011 (Chris Moore)

Construction of new residential housing lost momentum in July as declines in new single-family housing starts were partly offset by gains in apartment construction according to the latest data released by the Census Bureau.

Privately owned housing starts declined by 1.5 percent in July compared to June with a seasonally adjusted annual rate of 604,000 starts reported in July compared to June’s revised estimate of 613,000 starts. Housing starts were 9.8 percent higher than July 2010’s rate of 550,000 starts.

Single-family housing starts in July decreased from June’s revised figure of 447,000 to 425,000, a decline of 4.9 percent, and multi-family dwellings increased 6.3 percent from a revised 160,000 starts in June to 170,000 in July.

The number of building permits issued in July were slightly lower than June as builders were authorized a seasonally adjusted annual rate of 597,000 permits in July compared to a revised 617,000 in June, a decline of 3.2 percent. The number of permits issued were above last years levels, which had an estimated 575,000 permits authorized.

Single-family building permit authorizations were 0.5 percent higher in July than June with 404,000 permits authorized compared to a revised 402,000 in June. Multi-family dwelling permits in July declined to 170,000 authorizations compared to a revised amount of 194,000 in June.

Housing completions increased in July compared to June with a seasonally adjusted annual rate of 636,000 completions reported compared to June’s 569,000 completions. Housing completions in July were also 9.5 percent higher than July 2010’s rate of 581,000 completions.

Single-family completions in July were at a rate of 470,000, an increase of 6.1 percent from June’s revised rate of 443,000. Multi-family completions in July were at a rate of 158,000, a large increase from June’s 111,000 completions.

Regionally, housing starts increased in two of the four regions with the Northeast and the South experiencing gains of 34.7 percent and 5.6 percent, respectively, with the Midwest and West experiencing declines of 37.7 percent and 3.0 percent, respectively.

Compared to a year ago, three of the four regions posted increases in housing starts with only the Midwest region posting a decline.

Building permit authorizations declined in three of the four regions in July compared to June. In the Midwest, authorizations declined 7.1 percent and in the South authorizations increased 3.6 percent. In the West, building permit authorizations declined 7.8 percent while the Northeast reported a decline of 18.3 percent in authorizations.

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

Source:
Census Bureau

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August 17, 2011 (Chris Moore)

Construction of new residential housing lost momentum in July as declines in new single-family housing starts were partly offset by gains in apartment construction according to the latest data released by the Census Bureau.

Privately owned housing starts declined by 1.5 percent in July compared to June with a seasonally adjusted annual rate of 604,000 starts reported in July compared to June’s revised estimate of 613,000 starts. Housing starts were 9.8 percent higher than July 2010’s rate of 550,000 starts.

Single-family housing starts in July decreased from June’s revised figure of 447,000 to 425,000, a decline of 4.9 percent, and multi-family dwellings increased 6.3 percent from a revised 160,000 starts in June to 170,000 in July.

The number of building permits issued in July were slightly lower than June as builders were authorized a seasonally adjusted annual rate of 597,000 permits in July compared to a revised 617,000 in June, a decline of 3.2 percent. The number of permits issued were above last years levels, which had an estimated 575,000 permits authorized.

Single-family building permit authorizations were 0.5 percent higher in July than June with 404,000 permits authorized compared to a revised 402,000 in June. Multi-family dwelling permits in July declined to 170,000 authorizations compared to a revised amount of 194,000 in June.

Housing completions increased in July compared to June with a seasonally adjusted annual rate of 636,000 completions reported compared to June’s 569,000 completions. Housing completions in July were also 9.5 percent higher than July 2010’s rate of 581,000 completions.

Single-family completions in July were at a rate of 470,000, an increase of 6.1 percent from June’s revised rate of 443,000. Multi-family completions in July were at a rate of 158,000, a large increase from June’s 111,000 completions.

Regionally, housing starts increased in two of the four regions with the Northeast and the South experiencing gains of 34.7 percent and 5.6 percent, respectively, with the Midwest and West experiencing declines of 37.7 percent and 3.0 percent, respectively.

Compared to a year ago, three of the four regions posted increases in housing starts with only the Midwest region posting a decline.

Building permit authorizations declined in three of the four regions in July compared to June. In the Midwest, authorizations declined 7.1 percent and in the South authorizations increased 3.6 percent. In the West, building permit authorizations declined 7.8 percent while the Northeast reported a decline of 18.3 percent in authorizations.

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

Source:
Census Bureau

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August 17, 2011 (Chris Moore)

Construction of new residential housing lost momentum in July as declines in new single-family housing starts were partly offset by gains in apartment construction according to the latest data released by the Census Bureau.

Privately owned housing starts declined by 1.5 percent in July compared to June with a seasonally adjusted annual rate of 604,000 starts reported in July compared to June’s revised estimate of 613,000 starts. Housing starts were 9.8 percent higher than July 2010’s rate of 550,000 starts.

Single-family housing starts in July decreased from June’s revised figure of 447,000 to 425,000, a decline of 4.9 percent, and multi-family dwellings increased 6.3 percent from a revised 160,000 starts in June to 170,000 in July.

The number of building permits issued in July were slightly lower than June as builders were authorized a seasonally adjusted annual rate of 597,000 permits in July compared to a revised 617,000 in June, a decline of 3.2 percent. The number of permits issued were above last years levels, which had an estimated 575,000 permits authorized.

Single-family building permit authorizations were 0.5 percent higher in July than June with 404,000 permits authorized compared to a revised 402,000 in June. Multi-family dwelling permits in July declined to 170,000 authorizations compared to a revised amount of 194,000 in June.

Housing completions increased in July compared to June with a seasonally adjusted annual rate of 636,000 completions reported compared to June’s 569,000 completions. Housing completions in July were also 9.5 percent higher than July 2010’s rate of 581,000 completions.

Single-family completions in July were at a rate of 470,000, an increase of 6.1 percent from June’s revised rate of 443,000. Multi-family completions in July were at a rate of 158,000, a large increase from June’s 111,000 completions.

Regionally, housing starts increased in two of the four regions with the Northeast and the South experiencing gains of 34.7 percent and 5.6 percent, respectively, with the Midwest and West experiencing declines of 37.7 percent and 3.0 percent, respectively.

Compared to a year ago, three of the four regions posted increases in housing starts with only the Midwest region posting a decline.

Building permit authorizations declined in three of the four regions in July compared to June. In the Midwest, authorizations declined 7.1 percent and in the South authorizations increased 3.6 percent. In the West, building permit authorizations declined 7.8 percent while the Northeast reported a decline of 18.3 percent in authorizations.

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.