Industry News

Real estate construction in July tops last year’s mark

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Privately owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 2.17 million, the U.S. Census Bureau and the Department of Housing and Urban Development announced today. This is about 1.6 percent above the revised June rate of 2.13 million and is about 2.5 percent above the July 2004 estimate of 2.11 million. The seasonally adjusted annual rate projects a monthly total over a 12-month period and accounts for seasonal fluctuations in statistics. Single-family authorizations in July were at a rate of 1.69 million; this is about 2 percent above the June figure of 1.65 million. Authorizations of units in buildings with five units or more were at a rate of 381,000 in July. Privately owned housing starts in July were at a seasonally adjusted annual rate of 2.04 million. This is about 0.1 percent below the revised June estimate of 2.05 million but is about 2.8 percent above the July 2004 rate of 1,986,000. Single-family housing starts in...