Housing Permits, Builder Confidence Rise
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Crowe says NAHB projects a total of 1.1 million housing starts this year.
WASHINGTON, DC—Forward-looking housing numbers released Wednesday and Thursday made a more positive impression than those reflecting the previous month. Federal government figures released Thursday showed that although housing starts declined in August from the previous month, building permits were up, especially on a year-over-year basis. That dovetails with the increase in builder confidence reported Wednesday by the National Association of Home Builders.
Both single-family and multifamily starts were off 3% to an annualized pace of 1,126,000 units in August, according to data jointly released by the Census Bureau and the Department of Housing and Urban Development. However, the August figures represented a 16.6% Y-O-Y gain…
