Residential construction numbers fluctuate during July

Housing starts were up during July, according to reports.According to a recent report from the U.S. Department of Housing and Urban Development, residential construction figures showed fluctuations during July.The report revealed the seasonally adjusted rate of permits issued for privately owned units settled at 597,000, which is 3.2 percent below June's rate and 3.8 percent above the pace set in July 2010. The adjusted rate for single-family authorizations was 404,000, which is 0.5 percent higher than June's figure of 402,000 permits.The seasonally adjusted rate of starts for privately owned homes fell to 604,000, 1.5 percent below the figure recorded in June. However, the pace is 9.8 percent greater than the previous year's rate. In addition, an adjusted rate of 425,000 single-family homes began construction during the month, which was 4.9 percent below June's pace.The monthly pace of housing completions, however, showed several increases. For privately owned homes, completions settled at an adjusted rate of 636,000, which is 11.8 percent higher than June and 9.5 percent above July 2010. The pace for single-family units was 470,000, representing a 6.1 percent increase from June's rate.The greater number of completions may allow for more sales nationwide. In the Houston real estate market, more home sales and greater prices were recorded during July, the Houston Association of Realtors recently reported.Courtesy of 2M Realty News

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