Housing Starts Jumped 4.8% In June

Posted by Patrick Barnard on July 20, 2016 No Comments
Categories : Residential Mortgage

Housing starts were at a seasonally adjusted annual rate of about 1.189 million in June – an increase of 4.8% compared with about 1.135 million as of May but a decrease of 2.0% compared with about 1.213 million in June 2015, according to estimates released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.

Starts of single-family homes were at a rate of about 778,000, an increase of 4.4% compared with the revised May figure of about 745,000. Starts of multifamily units (five units or more per building) were at a rate of about 392,000, an increase of 1.6% compared with about 386,000 in May.

Building permits in June were at a seasonally adjusted annual rate of about 1.153 million, an increase of 1.5% compared with the revised May rate of 1.136 million but a decrease of 13.6% compared with about 1.334 million in June 2015.

Permits for single-family homes were at a rate of about 738,000, an increase of about 1.0% compared with about 731,000 in May. Permits for multifamily units were at a rate of about 384,000, an increase of 1.9% compared with a rate of about 377,000 in May.

About 1.147 million new homes had been completed in the 12 months ended in June. That’s an increase of 12.3% compared with the revised May estimate of about 1.021 million units completed and an increase of 18.7% compared with about 966,000 in June 2015.

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