Housing starts dip more than expected in August

August Housing Starts: -5.1% M/M to 1.416M vs. 1.486M expected, 1.492M prior (revised from 1.496M). Starts were up 2.8% on a year-over-year basis.

Single-family starts of 1.021M were up 4.1% from July.

Building permits 1.470M vs. 1.530M expected and 1.483M prior (revised from 1.495M).

Single-family authorizations in August were at a rate of 1.036M, up 6.0% from the revised July figure of 977K.

Privately-owned housing completions in August were at a seasonally adjusted annual rate of 1.233M, 7.5% below the revised July estimate of 1.333M and 2.4% below the August 2019 rate of 1.263M.

Single-family housing completions in August were at a rate of 912K, down 4.4% from the revised July rate of 954K.