Home Construction Growth

Home Construction Growth

Last month’s housing starts were at an annual rate of 1.093 million units, the highest reading since November. Single-family housing starts in July increased 8.3 percent over the revised June figure of 606,000, and were at a rate of 656,000. The July rate for multifamily housing was 423,000, showing the strongest level of starts since 2006.

Home Depot and other home stores showed strong business growth in the last several months due to an uptick in home construction and remodeling. The sale of appliances and other high priced items has increased almost 16 percent.

July construction starts in the US was over one million. Single family home starts were over 600,000 and multifamily starts were over 400,000.

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