Housing starts slump 4% in July, but there’s one silver lining for the real-estate market

Jacob Passy
Housing starts slump 4% in July, but there’s one silver lining for the real-estate market

The numbers: Construction on new houses fell 4% in July to the second-lowest rate this year, but builders applied for more permits in a positive sign for the housing market. Economists polled by MarketWatch had anticipated a 1.25 million rate for starts. Permits to build additional properties increased 8.4% to a seasonally-adjusted annual pace of 1.336 million from June’s revised rate of 1.232 million.