by Calculated Risk on 9/18/2013 08:41:00 AM
Wednesday, September 18, 2013
Housing Starts increased in August to 891,000 SAAR
From the Census Bureau: Permits, Starts and Completions
Housing Starts:
Privately-owned housing starts in August were at a seasonally adjusted annual rate of 891,000. This is 0.9 percent above the revised July estimate of 883,000 and is 19.0 percent above the August 2012 rate of 749,000.
Single-family housing starts in August were at a rate of 628,000; this is 7.0 percent above the revised July figure of 587,000. The August rate for units in buildings with five units or more was 252,000.
Building Permits:
Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 918,000. This is 3.8 percent below the revised July rate of 954,000, but is 11.0 percent above the August 2012 estimate of 827,000.
Single-family authorizations in August were at a rate of 627,000; this is 3.0 percent above the revised July figure of 609,000. Authorizations of units in buildings with five units or more were at a rate of 268,000 in August.
![Total Housing Starts and Single Family Housing Starts](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhJDaLb-SX7qkANdn-dHjjo3xVZNY9GVzQGh1FWsCQvcC25Nwn2mL4lntmUtpPfH9w_tTE-9AO5eknfubQ969H_pY4OgjZeT-jLVcL7XRxgm6fCJW6cSZSA3EmGI1ekTpoAPdVn/s320/StartsShortAug2013.jpg)
The first graph shows single and multi-family housing starts for the last several years.
Multi-family starts (red, 2+ units) decreased in August (Multi-family is volatile month-to-month).
Single-family starts (blue) increased to 628,000 SAAR in August (Note: July was revised down from 591 thousand to 587 thousand).
The second graph shows total and single unit starts since 1968.
![Total Housing Starts and Single Family Housing Starts](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiI0abQdt3_WB2C2hkgZSmbAMori5EvcIy_QNgLCK-JhPRCKUiUL03Q2uRutoca8i626ROpLaaDHspg854Sz29nCNXzUsjitsg6Q-m_JAByy53YSRr1zIa6g8_dSSoa0jn_ofZE/s320/StartsAug2013.jpg)
This was below expectations of 915 thousand starts in August. I'll have more later ...