Housing news mixed in July

Housing starts were up 1.7 percent in July from the June level, but permits authorizing future residential construction were down 3.1 percent, according to figures released Aug. 17 jointly by the U.S. Census Burea and the Department of Housing and Urban Development. Compared to July 2009, the adjusted annual rate of 546,000 housing starts is down 7 percent. The adjusted annual rate of 565,000 permits is 3.7 percent below July 2009.

Housing completions in July were at a seasonally adjusted annual rate of 587,000 — 32.8 percent revised June estimates and 25.4 percent below the July 2009 rate.