Housing Starts Increase 3.0% in June

In the latest report by the Census Bureau, housing starts increased to a seasonally adjusted annual rate of 1.353 million in June, surpassing the forecasted rate of 1.3090 million. This marks a 3.0% increase from May and a 4.4% decline compared to one year ago.

Here is the opening of the monthly report:

Privately-owned housing starts in June were at a seasonally adjusted annual rate of 1,353,000. This is 3.0 percent (±10.5 percent)* above the revised May estimate of 1,314,000, but is 4.4 percent (±12.7 percent)* below the June 2023 rate of 1,415,000. Single-family housing starts in June were at a rate of 980,000; this is 2.2 percent (±12.1 percent)* below the revised May figure of 1,002,000. The June rate for units in buildings with five units or more was 360,000.