Housing starts fall in June

Housing starts fell 9.3 percent from May to June, according to the U.S. Census Bureau. Construction decreased to a seasonally adjusted annual rate of 893,000 compared with a revised estimate of 985,000 in May.

Single-family housing starts fell 9 percent. Building permit applications, which are viewed as a barometer of future construction, fell 4.2 percent in June to 963,000.

Housing starts are far above the annual rate of 478,000 in April 2009, which was the recession low. And housing starts were 7.5 percent higher in June than in June 2013. However, a 1.5 million annual rate still is needed to be considered healthy.

Date : 7/18/2014