- Analytics
- News and Tools
- Market News
- U.S. housing starts fall more than expected in July
U.S. housing starts fall more than expected in July
The Commerce
Department reported on Friday the building permits issued for privately owned
housing units climbed by 8.4 percent m-o-m in July (the largest advance since
June 2017) to a seasonally adjusted annual pace of 1.336 million, while housing
starts fell by 4.0 percent m-o-m to an annual rate of 1.191 million.
Economists had
forecast housing starts decreasing by 1.7 percent m-o-m last month and building
permits surging by 3.1 percent m-o-m.
Data for June
was revised down to show homebuilding declining to a pace of 1.241 million
units, instead of falling to a rate of 1.253 million units as previously
reported.
According to
the report, permits for single-family homes, the largest segment of the market,
rose 1.8 percent m-o-m at 838,000 in July (the highest level in eight months),
while approvals for the multi-family homes segment surged 21.8 percent m-o-m to
a 498,000 unit-rate.
In the
meantime, groundbreaking on single-family homes rose 1.3 percent m-o-m to a
rate of 876,000 units in July (the highest level in six months), while housing
starts for the multi-family tumbled 16.2 percent m-o-m to a 315,000-unit pace.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
