The U. S. Department of Housing and Urban Development (HUD) and the Census Bureau inform MHProNews housing starts fell in all four regions of the country in August by 14.4 percent to a seasonally-adjusted annual rate (SAAR) of 956,000 units. Multifamily production led the downward trend, falling 31.7 percent, while single-family dropped 2.4 percent to a SAAR of 643,000. The National Association of Home Builders (NAHB)’s Chairman Kevin Kelly says despite the slip, “Single-family starts are still 8 percent above last year’s level.” Regionally, the Northeast fell 12.9, the Midwest lost 10.3 percent, the South slid 10.9 percent and the West, a whopping 24.7 percent. In August, building permits slipped for single-family homes 0.8 percent, but for multifamily it dropped 12.7 percent. ##

(Image credit: CNNMoney.com–housing slides)