Housing starts in the USA fell 7 percent in July to 1 million 534 thousand, the lowest level in three months, while construction permits increased by 2.6 percent to 1 million 635 thousand.
The US Department of Commerce has released housing starts and building permits statistics for July 2021.
Accordingly, housing starts decreased by 7 percent in July compared to the previous month and decreased to 1 million 534 thousand.
Housing starts, which decreased above market expectations and fell to the lowest level in 3 months, were expected to be 1 million 600 thousand.
Housing starts, which decreased with the effect of increasing construction costs and housing prices, were realized at the level of 1 million 650 thousand in June. Housing starts in the country rose 2.5 percent year-on-year in July.
Building permits exceed expectations
Construction permits, on the other hand, increased by 2.6 percent on a monthly basis to 1 million 635 thousand in July.
The market expectation for construction permits, which increased in this period after a 3-month decline, was 1 million 610 thousand.
The construction permits, which increased above the market expectations, were realized at the level of 1 million 594 thousand in June. Construction permits in the country increased by 6 percent on an annual basis last month.
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