Nationally, housing starts activity dropped in August, while the volume of homes authorized by building permits rose. According to residential construction data from the U.S. Census Bureau and the Department of Housing and Urban Development, single-family starts reached a seasonally adjusted rate of 739,000 during August.
- A drop in starts as the industry enters fall is not the most positive sign.
- Despite concerns regarding lot availability and labor, homebuilders appear confident moving forward.
- Overall housing starts -- single-family and multifamily -- are still up by nearly 17 percent compared to last year.