Housing starts and permits were up in August, according to the Census Bureau’s latest report…(Census Bureau)
- M-O-M: Housing starts were up 3.9% to a seasonally adjusted annual rate of 1,615,000.
- Y-O-Y: Housing starts were up a big 17.4% when compared to the same time a year ago.
SINGLE-FAMILY HOUSING STARTS were actually down 2.8% from July, but they were up 5.2% when compared to the same time one year ago.
- Regionally, the Northeast saw the biggest jump with a month-over-month increase of 53.4% followed by the South (+2.5%), the Midwest (-12.5%), and the West (-20.5%).
Building permits, like housing starts, were up in August as well…
- M-O-M: Building permits jumped 6.0% to a seasonally adjusted annual rate of 1,728,000.
- Y-O-Y: Building permits were up 13.5% when compared to August 2020.
NOTE: Housing completions were 4.5% from July to a seasonally adjusted annual rate of 1,330,000 and was up 9.4% compared to the same time one year ago.