Housing Starts Drop to Lowest in 9 Months

The U.S. government is reporting that privately‐owned housing starts in June were at a seasonally adjusted annual rate of 1,559,000, which is 2% lower than May’s revised number and 6.3% lower than one year ago.  June’s rate for units in buildings with five units or more was 568k.  Privately‐owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 1,685,000, which is 0.6% lower than May’s revised number.  Authorizations of units in buildings with five units or more were at a rate of 666k in May.

Click here to read the full report at the U.S. Census Bureau.