Housing starts fall in June

Housing starts fell 9.9 percent from May to June, according to the U.S. Census Bureau. Construction decreased to a seasonally adjusted annual rate of 836,000 compared with 928,000 in May.

Single-family construction starts fell 0.8 percent. Building permit applications, which are viewed as a barometer of future construction, fell 7.5 percent in June to 911,000.

Housing starts are far above the annual rate of 478,000 in April 2009, which was the recession low. Housing starts also were 16.1 percent higher in June than in June 2012. However, a 1.5 million annual rate still is needed to be considered healthy.

Date : 7/18/2013