U.S. housing starts in July fell 11 percent month-over-month to a seasonally adjusted annual rate of 965,000, according to the U.S. Census Bureau. That figure is 29.2 percent below the revised July 2007 rate of 1,371,000 units.
Single-family housing starts fell 2.9 percent from June to 641,000; compared with July 2007, that figure fell 10.9 percent.
The number of privately owned housing units that issued building permits last month fell 17.7 percent from June to 937,000, or down 32.4 percent compared with the same period last year.
Building permits for single-family homes fell 5.2 percent month-over-month to 584,000.