Housing Starts Increased to 1.356 million Annual Rate in August

Today, in the Calculated Risk Real Estate Newsletter: Housing Starts Increased to 1.356 million Annual Rate in August

A brief excerpt:

Total housing starts in August were above expectations and starts in June and July were revised slightly. A solid report.

The third graph shows the month-to-month comparison for total starts between 2023 (blue) and 2024 (red).

Total starts were up 3.9% in August compared to August 2023. 

The YoY increase in August total starts was due to an increase in both multi-family and single-family starts.

Single family starts have been up year-over-year in 12 of the last 14 months, whereas multi-family has been up year-over-year in only 2 of last 14 months. Year-to-date (YTD), total starts are down 4.0% compared to the same period in 2023. Single family starts are up 10.4% YTD, and multi-family down 32.6% YTD.

There is much more in the article.