U.S. housing starts beat expectations in August


FILE PHOTO: A carpenter works on building new townhomes that are still under construction while building material supplies are in high demand in Tampa, Florida, U.S., May 5, 2021. REUTERS/Octavio Jones

September 21, 2021

WASHINGTON(Reuters) – U.S. homebuilding increased more than expected in August, likely boosted by an easing in lumber prices, though land and labor shortages remain challenges.

Housing starts advanced 3.9% to a seasonally adjusted annual rate of 1.615 million units last month, the Commerce Department said on Tuesday. Data for July was revised up to a rate of 1.554 million units from the previously reported 1.534 million units.

Economists polled by Reuters had forecast starts rebounding to a rate of 1.555 million units.

(Reporting By Lucia Mutikani; Editing by Andrew Heavens)

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