US building permits rise, housing starts sink

(Sharecast News) - US building permits rose in July even as housing starts fell sharply, according to fresh data from the Census Bureau. Permits increased 5% month‑on‑month to an annualised rate of 1.44m, comfortably above expectations for 1.37m. Multi‑unit permits jumped 9.1% to 490,000, while single‑family authorisations were up 2.5% at 894,000. Regionally, permits strengthened in the Midwest, South and West, but slipped in the Northeast.

In contrast, housing starts dropped 12.4% to 1.23m, missing forecasts for 1.35m and coming close to the six‑year low seen in May. Multi‑unit starts fell 15.6%, with single‑unit starts down 9.9%. Starts declined across the Midwest, South and West, but rose 17.1% in the Northeast.





Reporting by Iain Gilbert at Sharecast.com