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HOUSING STARTS AND BUILDING
PERMITS IN AUGUST 1997
Privately Owned Housing Starts
Privately owned housing starts in August were at a seasonally adjusted annual rate of 1,363,000, according to estimates reported today by the U.S. Commerce Department's Bureau of the Census. This is 5 (+/—5) percent below the revised July rate of 1,432,000 and 10 (+/—5) percent below the August 1996 rate of 1,515,000.
Single-family housing starts in August 1997 were at a rate of 1,072,000; this is 5 (+/—5) percent below the July figure of 1,128,000. The August rate for units in buildings with five units or more was 253,000. The August rate for units in buildings with two to four units was 38,000.
During the first 8 months of this year, 972,500 housing units were started compared with 1,012,700 units for the same period in 1996. This is a decrease of 4 (+/—1) percent.
Building Permits
The seasonally adjusted annual rate of housing units authorized by building permits in August was 1,391,000; this is 2 (+/—1) percent below the revised July rate of 1,414,000 and 1 (+/—1) percent below the August 1996 estimate of 1,405,000.
Single-family authorizations in August 1997 were at a rate of 1,027,000; this is virtually unchanged (+/—1 percent) from the July figure of 1,030,000. Authorizations of units in buildings with five units or more were at a rate of 295,000 in August. The August rate of permit- authorized units in buildings with two to four units was 69,000.
During the first 8 months of this year, 960,800 housing units were authorized by building permits compared with 980,900 units for the same period in 1996. This is a decrease of 2 (+/—1) percent.
Mobile Home Shipments
Statistics on mobile home shipments, which lag by 1 month, appear in the Current Construction Reports, series C20. In July, manufacturers' shipments of mobile homes were at a seasonally adjusted annual rate of 358,000, 1 percent above the June figure of 356,000. The July 1996 rate was 366,000. Before seasonal adjustment, total shipments in July 1997 were 28,900.
New Privately Owned Housing Units
Started By Region
Category Aug 97-(p) Jul 97-(r) Aug 96 1st 8 mos-X Housing Starts, (SAAR) 1,363 1,432 1,515 972.5 Northeast (SAAR) 118 146 131 87.9 Midwest (SAAR) 276 286 337 197.6 South (SAAR) 643 661 671 445.2 West (SAAR) 326 339 376 241.8
(p)--Preliminary.
(r)-- Revised.
X--Not seasonally adjusted.
September 17, 1997 U.S. Department of Commerce
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