July Housing Starts Fall 7%

As reported in our latest stories, it is confirmed, housing starts in the United States fell 7% in July 2021 to a seasonally adjusted annual rate of 1.543 million units, considerably below market expectations of 1.6 million.

It is the lowest reading in three months, as construction costs and property prices continue to rise.
Single-family home starts plummeted 4.5 percent to 1,111,000, while multifamily housing starts fell 13.6 percent to 412,000.

The Northeast (-49.3 percent), the West (-11.3 percent), and the Midwest (-6.9 percent) all saw the greatest declines in starts, but the South saw the greatest increase of 2.1 percent.