Housing Starts Enjoy 4.8% Boost in June to 1.189 Million, But Dip 2% Year-Over-Year

Privately-owned housing starts in June were at a seasonally adjusted annual rate of 1,189,000, 4.8% above the revised May estimate of 1,135,000, but 2% below the June 2015 rate of 1,213,000, according to the U.S. Census Bureau. Single-family housing starts in June were at a rate of 778,000, 4.4% above the revised May figure of 745,000.
The National Association of Home Builders (NAHB), Washington, D.C., said in its Eye On Housing blog, “The economic fundamentals are in place for continued slow, steady growth in the housing market.  Job creation is solid, mortgage rates are at historic lows and household formations are rising. These factors should help to bring more buyers into the market as the year progresses.”