U.S. Residential Starts Increase

For August, total residential starts in the U.S. shot up 12.3 per cent year-over-year from 1.416 million to a seasonally adjusted annual rate of 1.615 million, says Madison's Lumber Reporter. Also, permits for future homebuilding in August went up six per cent compared to the previous month and August 2021 permits went up 13.5 per cent compared to August 2020. August starts for single-family housing, the largest share of the market and construction method, were 1.076 million annualized, dropping 2.8 per cent drop from July’s 1.107 million.