DALLAS—A new report from Axiometrics—created primarily from US Census Bureau data—suggests that multifamily construction permiting took a wild ride in August.

The annual rate of 343,000 units represents a 13.4% decrease from July’s total of 396,000 units, following a 28.2% increase the previous month. The August rate represented a 17.5% increase from last August’s figure of 292,000 units. MF permits have averaged 366,000 units for the first eight months of 2014 and 369,000 units since August 2013.

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