US Housing Starts Plummet In July, Near COVID Lows

Seasonally adjusted annualized housing starts fell 12.4% month over month in July, marking the third major monthly decline in four months and bringing the measure back near post-COVID lows. The drop followed a June surge driven by a rebound in multifamily units, but it was substantially larger than the 5.9% decline expected.

Preliminary building permits moved in the opposite direction, rising 5.0% month over month after two consecutive monthly declines and exceeding the 0.6% increase expected. Permits are described as holding near a four-year level, providing a more forward-looking counterpoint to the weakness in completed starts.

The key follow-through is whether permits translate into starts in coming months or instead signal a widening gap between planned and actual construction. With no single company or equity named and no ticker-specific enrichment available, the release is primarily a macro read rather than a clean single-name setup.