Nationwide housing starts inched up 1.7 percent to a seasonally adjusted annual rate of 546,000 units in July from a downwardly revised figure in the previous month, according to U.S. Commerce Department figures released today. The gain occurred entirely on the multi-family side, with single-family housing production falling 4.2 percent to 432,000 units.

    

 

       The entire 1.7 percent gain in housing production this July was due to a 32.6 percent jump on the more volatile multi-family side, which brought that sector back closer to trend at an 114,000-unit rate following a major dip in the previous month. Meanwhile, single-family housing production declined 4.2 percent to a seasonally adjusted annual rate of 432,000 units, its lowest mark since May of 2009. 

 

 

Don Schaller
Broker/Owner
Schaller Family Realtors
Dickson Realty, Truckee
alltruckeehomes.com