The seasonally adjusted annual rate for private housing starts was 1,238,000, down 16% year-over-year, according to the U.S. Census Bureau. Single family housing accounted for 851,000 of those starts, down 14.1% from June, while housing in buildings with five units or more accounted for 363,000.
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The total privately owned housing start rate was 6.8% lower than the revised June figure of 1,329,000.
Building permits for privately owned housing were authorized at a seasonally adjusted annual rate of 1,396,000, down 7% from a year ago and 4% from June. Of those authorizations, 938,000 were for single-family homes, a 0.1% drop from June, while 408,000 were for units in buildings with five units or more.
Housing completions were down 9.8% from June but up 13.8% from a year ago, coming in at a seasonally adjusted annual rate of 1,529,000. Single-family housing completions were at a rate of 1,049,000, up 0.5% from June, while multi-unit completions were at a rate of 470,000.
