According to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, the housing market in July exhibited a mix of trends, with building permits maintaining stability, housing starts experiencing significant growth, and housing completions encountering a slight decline.

 

Building permits for privately-owned housing units authorized in July were at a seasonally adjusted annual rate of 1,442,000. This marked a 0.1% increase from June, yet a notable 13.0% decrease compared to July 2022. Single-family authorizations rose by 0.6% to a rate of 930,000, while authorizations for units in buildings with five or more units reached a rate of 464,000.

Housing starts, however, saw a significant uptick, with privately-owned housing starts in July reaching 1,452,000 a 3.9% increase from June and a 5.9% increase from July 2022. Single-family housing starts climbed by 6.7% to a rate of 983,000, while the rate for units in buildings with five or more units experienced no change at 460,000 units.

https://www.census.gov/construction/nrc/pdf/newresconst.pdf