US: Privately-owned housing starts in July were at 1,155,000

"Privately-owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 1,223,000. This is 4.8 percent below the revised June estimate of 1,213,000 and is 5.6 percent below the July 2016 rate of 1,223,000," the U.S. Department of Housing and Urban Development jointly announced on Wednesday.

Key takeaways:

• Single-family housing starts in July were at a rate of 856,000; this is 0.5 percent below the revised June figure of 860,000
• Privately-owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 1,223,000
• This is 4.1 percent below the revised June rate of 1,275,000, but is 4.1 percent above the July 2016 rate of 1,175,000
• Privately-owned housing completions in July were at a seasonally adjusted annual rate of 1,175,000
• This is 6.2 percent below the revised June estimate of 1,252,000, but is 8.2 percent above the July 2016 rate of 1,086,000