US building permits for July 1223K vs. 1250K estimate

US housing starts 1155K vs. 1220K estimate

The US building permits and housing starts came in weaker than expectations.

• Building permits 1223K vs 1250K est. Last month was was unrevised at 1275K
• Building permits are -4.1 percent below the revised June rate, but is +4.1 percent above the July 2016 rate
• Single family permits came in at 811K, unchanged from June. Multi family units came in at 377K
• Housing starts were 1155K vs 1220K est. Last month was revised lower a tad to 1213K vs 1215K originally reported.
• Housing starts are -4.8 percent below the revised June estimate and is -5.6 percent below the July 2016 rate
• Single family housing starts came in at 856K, down -0.5% below June 860K. Multi family housing starts came in at 287K