RANDOM LENGTHS: Housing starts falter in July, as multifamily sector sags
EUGENE, OR, Aug. 16, 2019 (Through a Knothole) -U.S. housing starts fell for a third straight month with the seasonally adjusted annual rate of starts in July dropping 4.0% from the previous month to 1.191 million units.
The volatile multifamily sector continued to drive the trend, falling to an annual rate of 315,000 units. That was the lowest reading for the sector since August 2017. The single-family sector held its own at an annual rate of 876,000 units, a 1.3% uptick from June (table).
The rate at which permits were issued rose 8.4% to an annual rate of 1.336 million ...