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July’s home construction figures show strong

Increased buyer interest in new construction homes has continued to strengthen, July housing starts rising 22.6 percent from June, building permits up 9.4 percent from July 2019 and housing completions up from last July as well.

Figures from July’s home construction appear on the up and up, July housing starts showing a rise of 22.6 percent from June to 1,496,000 (SAAR), reports Zillow. According to the U.S. Census Bureau, housing starts were up 23.4 percent from a year ago.

Building permits also displayed a rise of 18.8 percent from June, up 9.4% from July 2019 to 1,495,000, reports Zillow.

Housing completions were no exception, rising 3.6% from June, up 1.7% from July 2019.

Overall, data shows that increased buyer interest in construction of new homes has resulted in a uptick in pace of building.

Housing starts through July are up 4.3% year-to-date, compared with 2019, Zillow reports, and newly built homes seem to have also become more popular in recent months.

While high levels of unemployment remain a looming fear among many, the enduring inventory shortage and rising home buying activity has kept builders hard at work.