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Housing Starts Dip, Permits Still Gain

Following two months of uptick, U.S. housing starts declined 7% in July from June 2021, showing a seasonally adjusted rate of 1.534 million, which was 2.5% above July 2020, according to the U.S. Census Bureau and U.S. Dept. of Housing and Urban Development monthly new residential construction report.

Single-family starts were at an annual rate of 1.11 million, down 4.5% from June, but up 11.7% over a year ago. Multi-family (five units or more) came in at 412,000, down 13.6% from the previous month and down 16.3% from a year ago.

Housing building permits were at a seasonally adjusted rate of 1.635 million in July, 2.6% above the previous month, and 6% over a year ago. Single-family permits came in at 1.048 million, down 1.7% from June and up 5.5% from the same period last year. Multi-family reached 532,000 in July, up 11.1% over the previous month and ahead of last year by 6.4%.

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Remembrances Every Five Years

Always one to have fun with numbers, let’s have some fun now. You’ll notice that this issue marks the 46th time Timber Processing has published the Annual Lumbermen’s Buying Guide. That means the first one was published in 1979. So, beginning with 1979, and in five-year intervals, here are some tidbits that were also published in the Buying Guide in those respective years.

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