US single-family housing starts, building permits fall in June
ITB•Single-family homebuilding and permits decline
WASHINGTON, July 17 (Reuters) - U.S. single-family homebuilding and permits for future construction fell in June, weighed down by higher mortgage rates and inventory of unsold new homes on the market.
Single-family housing starts, which account for the bulk of homebuilding, slipped 0.2% to a seasonally adjusted annual rate of 895,000 units, the Commerce Department's Census Bureau said on Friday. Single-family homebuilding dropped 3.2% year-on-year in June. Permits for future construction of single-family homes dropped 2.4% last month to a rate of 871,000 units. They fell 0.2% year-on-year in June.
Multi-family starts jump while overall permits fall
Starts for housing projects with 5 units or more, a very volatile segment, soared 76.3% to a rate of 513,000 units in June. Multi-family housing starts increased 19.3% year-on-year. Overall housing starts jumped 19.0% to a pace of 1.427 million units. They increased 3.5% year-on-year in June.
