Housing starts for July fell to a seasonally adjusted annual rate of 1.381 million units, 6.1 percent below the revised June rate of 1.470 million units. That figure is 20.9 percent below the revised July 2006 number of 1.746 million units.
According to the statistics released by the U.S. Census Bureau and Department of Housing and Urban Development, single-family home starts in July were at a rate of 1.070 million units, 7.3 percent below the June figure of 1.154 million.
Building permits fell to a seasonally adjusted annual rate of 1.373 million in July, down 2.8 percent from a revised June rate of 1.413 million. July permits were 22.6 percent below the revised July 2006 estimate of 1.774 million.
Privately owned housing completions in July were flat at 0.1 percent below the seasonally adjusted annual rate of 1.512 million. Completions were 22.2 percent below the July 2006 rate of 1.944 million.
Single-family housing completions in July were at a rate of 1.203 million, or 4 percent below the June figure of 1.253 million.
The Census Bureau will release new residential construction figures for August on Sept. 19.