Today's New Residential Construction Report showed mixed results in August, with a 3.8% decline in total housing permits. Single-family permits total and single-family starts improved on the month.
Single-family housing permits, the most leading of indicators, increased 3.0% from July to 627K units. They increased 20.6% above the level seen in August 2012, but remained well below levels seen at the peak in September 2005. Single-family housing starts increased 7.0% from July to 628K units, and rose 16.9% above the level seen in August 2012. But they remained well below the peak set in early 2006.