US Housing Starts Rebound In June


Housing starts in the United States jumped 8.3 percent from the previous month to a seasonally adjusted annualized rate of 1215 thousand in June of 2017, following an upwardly revised 1122 thousand in the previous month and compared to market expectations of a 5.8 percent rise. It is the strongest construction activity in four months as starts increased in the Northeast, the Midwest and the West.

Single-family starts, the largest segment of the market went up 6.3 percent to 849 thousand and the volatile multi-family segment surged 15.4 percent to 359 thousand. Starts jumped in the Northeast (83.7 percent to 158 thousand); the Midwest (22 percent to 205 thousand) and the West (1.6 percent to 319 thousand) but shrank 3.8 percent to 533 thousand in the South. 

Building permits increased 7.4 percent to a seasonally adjusted annualized rate of 1254 thousand from 1168 thousand in May and way above market expectations of 1200 thousand. Single-family authorizations gained 4.1 percent to 811 thousand and authorizations of units in buildings with five units or more went up 14.6 percent to 409 thousand. Among regions, building permits rose in the Midwest (19.7 percent to 207 thousand), the West (9.9 percent to 323 thousand) and the South (6.9 percent to 619 thousand) but fell in the Northeast (-13.9 percent to 105 thousand).

US Housing Starts Rebound In June


U.S. Census Bureau | Joana Taborda | joana.taborda@tradingeconomics.com
7/19/2017 12:48:17 PM