Housing starts rose 2.3% in August, increasing to a rate of 750,000 units, up from July’s revised estimate of 733,000 units, the Census Bureau said Wednesday.

The starts numbers fit within the overall narrative coming from housing economists that the housing market is looking up with sales and prices rising in some key markets, including the hard hit sand states.

August housing starts rose 29% from year-ago levels when only 581,000 homes began the construction process.

Single-family starts dominated, rising 5.5% to 535,000 units last month, up from 507,000 starts in July. Buildings with five or more housing units accounted for 208,000 August housing starts.  

Meanwhile, permits for new housing construction fell a slight 1%, with 803,000 permits on file in August compared to 811,000 in July. Still, permit activity overall rose 24.5% above year ago levels.


Most Popular Articles

Here are the mortgage lenders that borrowers like the most

J.D. Power’s 2019 U.S. Primary Mortgage Origination Satisfaction Study, released Thursday morning, showed that there are some lenders that customers seem to love working with more than others. Here are the ones that borrowers are partial to.

Nov 14, 2019 By

Latest Articles

Congressional vote on “de facto QM Patch” postponed

The House Financial Services Committee postponed a vote on H.R. 2445 on Wednesday, a bill that would fix the so-called QM Patch that’s set to expire in early 2021.

Nov 15, 2019 By