Skip to main content

Housing Starts Up 6.3 Percent

Phil Hall
Jul 19, 2017
Single-family housing starts in June were at a rate of 849,000

Single-family housing starts in June were at a rate of 849,000, which is 6.3 percent above the revised May figure of 799,000, according to data from the U.S. Census Bureau and the Department of Housing and Urban Development. Privately-owned housing starts in June were at a seasonally adjusted annual rate of 1,215,000, which is 8.3 percent above the revised May estimate of 1,122,000 and is 2.1 percent above the June 2016 rate of 1,190,000. 
 
Single-family authorizations in June were at a rate of 811,000, a 4.1 percent rise above the revised May figure of 779,000. Privately-owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 1,254,000, which is 7.4 percent above the revised May rate of 1,168,000 and is 5.1 percent above the June 2016 rate of 1,193,000.
 
Single-family housing starts in June were at a rate of 849,000, a 6.3 percent increase from the revised May figure of 799,000. Privately-owned housing starts in June were at a seasonally adjusted annual rate of 1,215,000, an 8.3 percent upswing from the revised May estimate of 1,122,000 and is 2.1 percent above the June 2016 rate of 1,190,000.
 
“Though a recovery in housing starts in June is welcome news, more consistent gains are needed to help rebalance the housing market,” said National Association of Realtors (NAR) Chief Economist Lawrence Yun. “The latest 1.22 million in total housing starts is still well below the historical average of 1.5 million. That is why the country is experiencing a stubborn housing shortage. With rising population and steady job gains, drastically more new home construction is needed to fully and satisfactorily house new households that will be formed this year and upcoming years.”

 
Published
Jul 19, 2017
Reports: Evergrande Group Makes $83.5M Interest Payment

Faltering Chinese development firm fends off default with payment to international bondholders.

Industry News
Oct 22, 2021
FAR Establishes Borrower Engagement Division

Finance of America Reverse LLC announced its formally established Borrower Engagement Division.

Industry News
Oct 22, 2021
Automating Appraisals No Panacea For Removing Bias

With racism 'grandfathered in' to housing prices in minority neighborhoods, a solution to 'unconscious bias' is difficult to find

Industry News
Oct 21, 2021
Reports: Evergrande Group Arranges Bond Extension

Reuters, REDD say company's billionaire chairman has agreed to provide additional collateral to ensure a construction project tied to a $260M bond is completed.

Industry News
Oct 21, 2021
New American Funding Hires Regional Manager

Mark Tribuna will lead effort to expand company's partnership with affordable nonprofit builders in mid-Pacific region

Industry News
Oct 21, 2021
Rocket Pro Announces Initiatives To Boost Brokers

Company brings Rocket Tech, the Rocket Network and Rocket Marketing to mortgage brokers across the country

Industry News
Oct 19, 2021