U.S. housing grows in July

WASHINGTON ― Privately-owned housing units authorized by building permits in July were at a SAAR of 1,119,000, according to the U.S. Census Bureau. This is 16.3% below the revised June rate but 7.5% above the July 2014 estimate. Housing starts in July were at a SAAR of 1,206,000, 0.2% above the revised June estimate and is 10.1% above the July 2014 estimate. Meanwhile, housing completions were at a SAAR of 987,000, an increase of 2.4% from the revised June estimate and 14.6% more than last year’s rate.