US: Building permits decline by 5.7% in August to 1,229,000

"Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,229,000," the U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced on Tuesday and added: "This is 5.7 percent below the revised July rate of 1,303,000 and is 5.5 percent below the August 2017 rate of 1,300,000."

Key takeaways from the press release

• Privately-owned housing starts in August were at a seasonally adjusted annual rate of 1,282,000.
  • This is 9.2 percent above the revised July estimate of 1,174,000 and is 9.4 percent above the August 2017 rate of 1,172,000.
  • Single-family housing starts in August were at a rate of 876,000; this is 1.9 percent above the revised July figure of 860,000.
  • The August rate for units in buildings with five units or more was 392,000. 
• Privately-owned housing completions in August were at a seasonally adjusted annual rate of 1,213,000.
  • This is 2.5 percent above the revised July estimate of 1,183,000 and is 11.2 percent above the August 2017 rate of 1,091,000.