Housing starts and permits both rose in June for the first time in four months according to the Census Bureau’s New Residential Construction Report.
Starts rose 8.3%, with single family units up 6.%. Permits rose 7.4%, with single family permits up 4.1%.
The quarter ends on a positive note but the overall pace is lower than in the first quarter.
New Privately‐Owned Housing Units Started
New Privately‐Owned Housing Units Completed
New Privately‐Owned Housing Units Authorized in Permit‐Issuing Places
- Starts Down 6.0%
- Completions Up 0.2%
- Permits Down 3.4%
Residential construction rates to subtract from second quarter GDP.
Mike “Mish” Shedlock