Multifamily Drives Down New Building Permits

The annual rate of building permits took a hit last month due to weakened multifamily activity. But completed construction grew from a year earlier.

Building permits were issued on 107,000 privately owned housing units during the month of August 2016 in municipalities that issue building permits.

Activity increased from the downwardly revised 95,100 permits issued in the previous month and was also greater than 98,400 as of a year previous.

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From:: Financing