According to the US Census Bureau, US homebuilders began building homes in August with a seasonally adjusted annual rate of 1.62 million homes. This is an increase of 3.9% from the previous month. Compared to August 2020, housing starts increased by 17.4%. The pace of permits for new housing units also increased in August. The number of new home permits is seasonally adjusted at an annual rate of 1.73 million, an increase of 6% from July and 13.5% from a year ago. The profits recorded in August, both for housing starts and building permits, were driven by increased housing building activity. Economists surveyed by MarketWatch predicted that housing would begin to grow at a pace of 1.55 million and building permits would enter at a pace of 1.62 million.
New housing construction improved in August due to an increase in apartments
Source link New housing construction improved in August due to an increase in apartments