{"id":1004082232,"date":"2013-08-19T05:24:09","date_gmt":"2013-08-19T13:24:09","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004082232"},"modified":"2022-12-07T10:49:12","modified_gmt":"2022-12-07T18:49:12","slug":"economy-watch-housing-starts-up-in-july-consumers-grumpier-in-august","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/economy-watch-housing-starts-up-in-july-consumers-grumpier-in-august\/","title":{"rendered":"Economy Watch: Housing Starts Up in July; Consumers Grumpier in August"},"content":{"rendered":"

By Dees Stribling, Contributing Editor<\/em><\/p>\n

Housing starts continued their upward trajectory in July, with private starts coming in at an annualized rate 896,000 units, a 5.9 percent increase compared with June, the Census Bureau reported on Friday. The total is also up 20.9 percent compared with July 2012.<\/p>\n

All of the monthly increase was due to multi-family starts, since at an annualized 591,000 units, single-family home starts were 2.2 percent lower in July than June. Multi-family starts, which tend to be jumpy, were up more than 25 percent for the month. Still, on an annual basis, single-family home starts were up 15.4 percent in July, according to the Census Bureau, with multi-family starts up more than 33 percent for the year.<\/p>\n

Building permits, a more forward-looking indicator of housing activity, exhibited the same pattern in July as starts did. Privately owned housing units authorized by building permits in July were at an annualized rate of 943,000, for a gain of 2.7 percent compared with June. Single-family permitting was down 1.9 percent for the month, while multi-family permitting was up 13.5 percent.<\/p>\n

Consumers Grumpier in August\u00a0<\/strong><\/p>\n

Preliminary consumer sentiment for August took a dip compared with the end of July, according to Reuters\/University of Michigan on Friday. The sentiment index dropped from a final reading in July of 85.1 to a mid-August reading of 80, which is the lowest level since April, and lower than expected.<\/p>\n

The current conditions component dragged the index down, dropping 7.6 points to 91, its lowest reading since April. It isn\u2019t clear what\u2019s bothering consumers this time, since the housing market is generally acknowledged to be a recovery mode, gas prices haven\u2019t spiked in recent weeks, and the employment picture isn\u2019t getting any worse. The expectations component also dropped, down 3.6 points to 72.9, which is the lowest reading for that component since April.<\/p>\n

Moreover, consumer sentiment is still historically low. During the Reagan-era prosperity, the index tended to be in the 90s, while during the Clinton-era prosperity, it often broke 100 and even 110. During the most recent recession, the index dropped precipitously, and only recently has risen over 80 once more. The last time sentiment was that glum was during the malaise of the late 1970s and early \u201980s.<\/p>\n

Wall Street was also a bit more grumpy on Friday, with the Dow Jones Industrial Average dropping 30.72 points, or 0.2 percent. The S&P 500 lost 0.33 percent and the Nasdaq was off 0.09 percent.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Housing starts continued their upward trajectory in July, with private starts coming in at an annualized rate 896,000 units, a 5.9 percent increase compared with June. And preliminary consumer sentiment for August took a dip compared with the end of July.<\/p>\n","protected":false},"author":1023,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1004082232","post","type-post","status-publish","format-standard","hentry","category-latest"],"acf":[],"yoast_head":"\nEconomy Watch: Housing Starts Up in July; Consumers Grumpier in August - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-housing-starts-up-in-july-consumers-grumpier-in-august\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economy Watch: Housing Starts Up in July; Consumers Grumpier in August\" \/>\n<meta property=\"og:description\" content=\"Housing starts continued their upward trajectory in July, with private starts coming in at an annualized rate 896,000 units, a 5.9 percent increase compared with June. And preliminary consumer sentiment for August took a dip compared with the end of July.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-housing-starts-up-in-july-consumers-grumpier-in-august\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-08-19T13:24:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-07T18:49:12+00:00\" \/>\n<meta name=\"author\" content=\"Dees Stribling\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-housing-starts-up-in-july-consumers-grumpier-in-august\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-housing-starts-up-in-july-consumers-grumpier-in-august\\\/\"},\"author\":{\"name\":\"Dees Stribling\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/dc1e9fa4ee0430d86f8e60cd697c953c\"},\"headline\":\"Economy Watch: Housing Starts Up in July; Consumers Grumpier in August\",\"datePublished\":\"2013-08-19T13:24:09+00:00\",\"dateModified\":\"2022-12-07T18:49:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-housing-starts-up-in-july-consumers-grumpier-in-august\\\/\"},\"wordCount\":402,\"commentCount\":0,\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-housing-starts-up-in-july-consumers-grumpier-in-august\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-housing-starts-up-in-july-consumers-grumpier-in-august\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-housing-starts-up-in-july-consumers-grumpier-in-august\\\/\",\"name\":\"Economy Watch: Housing Starts Up in July; Consumers Grumpier in August - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"datePublished\":\"2013-08-19T13:24:09+00:00\",\"dateModified\":\"2022-12-07T18:49:12+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/dc1e9fa4ee0430d86f8e60cd697c953c\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-housing-starts-up-in-july-consumers-grumpier-in-august\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-housing-starts-up-in-july-consumers-grumpier-in-august\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-housing-starts-up-in-july-consumers-grumpier-in-august\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Economy Watch: Housing Starts Up in July; Consumers Grumpier in August\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/dc1e9fa4ee0430d86f8e60cd697c953c\",\"name\":\"Dees Stribling\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/42add8af9e9229ed27332ad13f5b8c6f6ae89de868a41cf81baaac4ad46e589a?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/42add8af9e9229ed27332ad13f5b8c6f6ae89de868a41cf81baaac4ad46e589a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/42add8af9e9229ed27332ad13f5b8c6f6ae89de868a41cf81baaac4ad46e589a?s=96&d=mm&r=g\",\"caption\":\"Dees Stribling\"},\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/dcstribling\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Economy Watch: Housing Starts Up in July; Consumers Grumpier in August - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/economy-watch-housing-starts-up-in-july-consumers-grumpier-in-august\/","og_locale":"en_US","og_type":"article","og_title":"Economy Watch: Housing Starts Up in July; Consumers Grumpier in August","og_description":"Housing starts continued their upward trajectory in July, with private starts coming in at an annualized rate 896,000 units, a 5.9 percent increase compared with June. And preliminary consumer sentiment for August took a dip compared with the end of July.","og_url":"https:\/\/www.commercialsearch.com\/news\/economy-watch-housing-starts-up-in-july-consumers-grumpier-in-august\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2013-08-19T13:24:09+00:00","article_modified_time":"2022-12-07T18:49:12+00:00","author":"Dees Stribling","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/economy-watch-housing-starts-up-in-july-consumers-grumpier-in-august\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/economy-watch-housing-starts-up-in-july-consumers-grumpier-in-august\/"},"author":{"name":"Dees Stribling","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/dc1e9fa4ee0430d86f8e60cd697c953c"},"headline":"Economy Watch: Housing Starts Up in July; Consumers Grumpier in August","datePublished":"2013-08-19T13:24:09+00:00","dateModified":"2022-12-07T18:49:12+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/economy-watch-housing-starts-up-in-july-consumers-grumpier-in-august\/"},"wordCount":402,"commentCount":0,"articleSection":["News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/economy-watch-housing-starts-up-in-july-consumers-grumpier-in-august\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/economy-watch-housing-starts-up-in-july-consumers-grumpier-in-august\/","url":"https:\/\/www.commercialsearch.com\/news\/economy-watch-housing-starts-up-in-july-consumers-grumpier-in-august\/","name":"Economy Watch: Housing Starts Up in July; Consumers Grumpier in August - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"datePublished":"2013-08-19T13:24:09+00:00","dateModified":"2022-12-07T18:49:12+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/dc1e9fa4ee0430d86f8e60cd697c953c"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/economy-watch-housing-starts-up-in-july-consumers-grumpier-in-august\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/economy-watch-housing-starts-up-in-july-consumers-grumpier-in-august\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/economy-watch-housing-starts-up-in-july-consumers-grumpier-in-august\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Economy Watch: Housing Starts Up in July; Consumers Grumpier in August"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/dc1e9fa4ee0430d86f8e60cd697c953c","name":"Dees Stribling","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/42add8af9e9229ed27332ad13f5b8c6f6ae89de868a41cf81baaac4ad46e589a?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/42add8af9e9229ed27332ad13f5b8c6f6ae89de868a41cf81baaac4ad46e589a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/42add8af9e9229ed27332ad13f5b8c6f6ae89de868a41cf81baaac4ad46e589a?s=96&d=mm&r=g","caption":"Dees Stribling"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/dcstribling\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004082232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1023"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004082232"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004082232\/revisions"}],"predecessor-version":[{"id":1004615751,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004082232\/revisions\/1004615751"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004082232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004082232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004082232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}