by Calculated Risk on 8/19/2025 08:30:00 AM
From the Census Bureau: Permits, Starts and Completions
Housing Starts:
Privately-owned housing starts in July were at a seasonally adjusted annual rate of 1,428,000. This is 5.2 percent above the revised June estimate of 1,358,000 and is 12.9 percent above the July 2024 rate of 1,265,000. Single-family housing starts in July were at a rate of 939,000; this is 2.8 percent above the revised June figure of 913,000. The July rate for units in buildings with five units or more was 470,000.Building Permits:
Privately-owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of
1,354,000. This is 2.8 percent below the revised June rate of 1,393,000 and is 5.7 percent below the July 2024 rate
of 1,436,000. Single-family authorizations in July were at a rate of 870,000; this is 0.5 percent above the revised
June figure of 866,000. Authorizations of units in buildings with five units or more were at a rate of 430,000 in July.
emphasis added
Click on graph for larger image.
The first graph shows single and multi-family housing starts since 2000.
Multi-family starts (blue, 2+ units) increased month-over-month in July. Multi-family starts were up 24.1% year-over-year.
Single-family starts (red) increased in July and were up 7.8% year-over-year.
The second graph shows single and multi-family housing starts since 1968.
Total housing starts in July were well above expectations and starts in May and June were revised up.
I’ll have more later …
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