(Seasonally Adjusted Annual Rate)
Year over year, July building permits declined 5.7% to 1.354 million (SAAR), indicating a smaller pipeline than last summer
Housing starts rose 12.9% to 1.428 million, meaning more projects actually broke ground than a year ago.
Completions fell 13.5% to 1.415 million, with fewer homes finishing compared with July 2024.