Housing Starts Up, But Troubles Persist – NMP
Industry News

Housing Starts Up, But Troubles Persist

Sep 19, 2017
Single-family housing starts in August were at a rate of 851,000, which 1.6 percent above the revised July figure of 838,000

Single-family housing starts in August were at a rate of 851,000, which 1.6 percent above the revised July figure of 838,000, according to new data from the Census Bureau and Department of Housing and Urban Development. Privately-owned housing starts in August were at a seasonally adjusted annual rate of 1,180,000, which is 0.8 percent below the revised July estimate of 1,190,000, but is 1.4 percent above the August 2016 rate of 1,164,000
 
Single-family authorizations in August were at a rate of 800,000, which is 1.5 percent below the revised July figure of 812,000. However, privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,300,000, which is 5.7 percent above the revised July rate of 1,230,000 and is 8.3 percent above the August 2016 rate of 1,200,000.
 
Single-family housing completions in August were at a rate of 724,000, which is 13.3 percent below the revised July rate of 835,000. And privately-owned housing completions in August were at a seasonally adjusted annual rate of 1,075,000, which is 10.2 percent below the revised July estimate of 1,197,000, but is 3.4 percent above the August 2016 rate of 1,040,000.
 
The new data was greeted with concern by Lawrence Yun, chief economist at the National Association of Realtor (NAR).
 
“Following August’s decline in new home construction, there will no doubt be a further temporary setback to housing starts in upcoming months due to the impacts of Hurricanes Harvey and Irma on Texas and Florida, respectively,” Yun said. “The shortage of labor in construction will further intensify as more workers concentrate on rebuilding rather than on new construction. The nation’s housing shortage unfortunately looks to be with us well into the next year.”
About the author
Phil Hall
Link copied
Published
Sep 19, 2017
Get the NMP Daily
Community
How To Win Real Estate Investors, And Keep Them Coming Back

NMP Ignite speakers share strategies for building lasting investor relationships, overcoming financing challenges, and generating repeat business

Real estate investors can be some of the most valuable clients an originator will ever work with. They buy repeatedly, refinance properties, build portfolios, and refer other investors. But earning their loyalty requires a different approach from traditional residential lend...

Continue reading
Analysis and Data
Just 22% Of Homebuyers Are First-Timers As Cash Purchases Rise

NAR finds nearly one-third of repeat buyers pay cash, narrowing the pool of financed purchase transactions for lenders

First-time homebuyers remain largely on the sidelines of the housing market, accounting for just 22% of purchases as older, equity-rich repeat buyers continue to dominate, according to new data from the National Association of Realtors (NAR).The first-time buyer share edged ...

Continue reading
Renew your NMLS License — for free.

Enjoy access to a free NMLS renewal class when you attend an in-person event.

Find an event
More from
Industry News
Strong Jobs Report Threatens Mortgage Rate Rally

October hiring more than doubled expectations, pushing Treasury yields higher

Industry News
Nov 06, 2026
Fed Holds Rates, But Pricing Pressures Persist

Rising Treasury yields and fresh inflation data complicate rate locks, borrower qualification, and lender margins as markets anticipate another hike in December

Industry News
Oct 29, 2026
Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Industry News
Oct 16, 2026
Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Industry News
Oct 14, 2026
PLACE Acquires Ardley, Expanding Push To Turn Existing Borrowers Into New Loans

The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders

Industry News
Oct 09, 2026
Equifax, TransUnion Launch New Tools To Cut Credit Report Costs

Both bureaus introduce ways to purchase credit scores separately from reports, while Equifax reports growing VantageScore adoption and extends $1 pricing through 2028

Industry News
Oct 09, 2026