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HOUSING COMPLETIONS SUMMARY OF FINDINGS
Housing Units Completed In August 1997
At An Annual Rate Of 1,321,000
Privately owned housing completions in August were at a seasonally adjusted annual rate of 1,321,000, according to estimates released jointly today by the U.S. Commerce Department's Bureau of the Census and the U.S. Department of Housing and Urban Development. This is virtually unchanged (+/—7 percent) from the revised July rate of 1,318,000, but 9 (+/—6) percent below the August 1996 estimate of 1,449,000.
The August 1997 rate of single-family housing completions was 1,049,000; this is 2 (+/—6) percent below the revised July rate of 1,066,000. The August rate for units in buildings with five units or more was 239,000. The August rate for units in buildings with two to four units was 33,000.
During the first 8 months of this year, 883,400 housing units were completed compared with 896,300 units for the same period in 1996. This is a decrease of 1 (+/—2) percent.
At the end of August, the seasonally adjusted estimate of housing units under construction was 830,000; this is virtually unchanged (+/—1 percent) from the revised July figure of 834,000. Of these, 566,000 units were single-family structures, 239,000 were in buildings with five units or more, and 25,000 were in buildings with two to four units.
August 1997
(Units in 1000s)
Completed Total by Type Units 1 2-4 5+ August 97(p) 1,321 1,049 33 239 August 96 1,449 1,153 43 253 Completed by Location Northeast Midwest South West August 97(p) 118 299 581 323 August 96 126 313 661 349
October 3, 1997 U.S. Department of Commerce
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