Single-family starts, permits on the rise

Multifamily sector hit hard

The rate of single-family housing starts rose for the fifth straight month in July but were down 37.7 percent compared to the same month last year, the U.S. Census Bureau reported today.

The seasonally adjusted annual rate of single-family building-permit authorizations rose for the fourth straight month in July. This rate is a projection of a monthly total over a 12-month period, adjusted to account for typical seasonal fluctuations in construction activity.