Total housing starts dropped back below the 1 million mark to a seasonally adjusted 965,000 in July. This is an 11 percent dip from June’s revised starts. Contributing to the decline is single-family housing, which saw starts of just 641,000 units, the lowest since January 1991. Sandy Dunn, NAHB’s president, said there’s a bright side to the decline: It is “slowly but surely helping bring supply and demand back into balance.”
| 1.07 million | 947,000 | 1.03 million | 977,000 | 1.06 million | 965.000 | |||||
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| Feb. | Mar. | Apr. | May | June | July |
SOURCE: U.S. CENSUS BUREAU