Housing starts increased in June

Housing starts grew 8.3 percent from May to June, according to the U.S. Census Bureau. Construction increased to a seasonally adjusted annual rate of 1.215 million compared with a revised estimate of 1.122 million in May.

Single-family housing starts increased 6.3 percent to 849,000. Building permit applications, which are viewed as a barometer of future construction, increased 7.4 percent in June to 1.254 million.

Housing starts are well above the April 2009 annual rate of 478,000, which was the recession low. Additionally, they are 2.1 percent higher than in June 2016. A 1.5 million annual rate still is needed to be considered healthy.

Date : 7/20/2017