Total housing starts dropped back below the 1 million mark to a seasonally adjusted 965,000 in July. This is an 11 percent dip from June’s revised starts. Contributing to the decline is single-family housing, which saw starts of just 641,000 units, the lowest since January 1991. Sandy Dunn, NAHB’s president, said there’s a bright side to the decline: It is “slowly but surely helping bring supply and demand back into balance.”

                 
1.07 million
 
947,000
 
1.03 million
 
977,000
 
1.06 million
 
965.000
Feb.   Mar.   Apr.   May   June   July

SOURCE: U.S. CENSUS BUREAU